Providence Wealth Advisors LLC Has $4.39 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Providence Wealth Advisors LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,379 shares of the financial services provider’s stock after purchasing an additional 155 shares during the quarter. JPMorgan Chase & Co. makes up approximately 3.5% of Providence Wealth Advisors LLC’s holdings, making the stock its 5th largest holding. Providence Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $4,386,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Retirement Group LLC increased its position in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the period. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $34,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. in the first quarter worth $37,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $210.48 on Friday. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The company has a market cap of $604.43 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.33 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $211.49 and its 200 day moving average is $201.47.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same period last year, the firm posted $4.37 EPS. On average, equities research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Analyst Ratings Changes

A number of analysts have recently weighed in on JPM shares. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley cut their price objective on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $211.06.

About JPMorgan Chase & Co.

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.