Newport Wealth Strategies Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,964 shares of the financial services provider’s stock after selling 181 shares during the quarter. Newport Wealth Strategies Inc.’s holdings in JPMorgan Chase & Co. were worth $794,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Smart Portfolios LLC raised its position in JPMorgan Chase & Co. by 29.6% in the fourth quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 114 shares in the last quarter. Semmax Financial Advisors Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $56,000. Sound Income Strategies LLC raised its position in JPMorgan Chase & Co. by 126.7% in the second quarter. Sound Income Strategies LLC now owns 510 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 285 shares in the last quarter. Asset Planning Services Ltd. acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $61,000. Finally, Northstar Investment Advisors LLC raised its holdings in JPMorgan Chase & Co. by 3.3% during the 2nd quarter. Northstar Investment Advisors LLC now owns 72,159 shares of the financial services provider’s stock worth $67,000 after buying an additional 2,307 shares during the period. 71.52% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on JPM shares. Royal Bank of Canada restated a “buy” rating and set a $120.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 16th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Deutsche Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. Credit Suisse Group boosted their price objective on JPMorgan Chase & Co. from $128.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Goldman Sachs Group restated a “neutral” rating and set a $117.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, July 22nd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $122.94.
Shares of JPM traded down $2.84 during trading hours on Monday, reaching $110.09. The company’s stock had a trading volume of 443,945 shares, compared to its average volume of 10,896,389. The company has a market cap of $366.34 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. JPMorgan Chase & Co. has a 1-year low of $91.11 and a 1-year high of $119.24. The company has a current ratio of 0.97, a quick ratio of 1.00 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average of $112.95.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.32. The company had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.52 billion. JPMorgan Chase & Co. had a return on equity of 14.41% and a net margin of 24.73%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 EPS. Equities research analysts anticipate that JPMorgan Chase & Co. will post 9.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were issued a $0.80 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.91%. JPMorgan Chase & Co.’s dividend payout ratio is 35.56%.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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