Luts & Greenleigh Group Inc. Takes Position in JPMorgan Chase & Co. (NYSE:JPM)

Luts & Greenleigh Group Inc. bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,541 shares of the financial services provider’s stock, valued at approximately $918,000. JPMorgan Chase & Co. makes up about 1.0% of Luts & Greenleigh Group Inc.’s holdings, making the stock its 22nd largest position.

A number of other institutional investors have also recently added to or reduced their stakes in JPM. Retirement Group LLC lifted its holdings in JPMorgan Chase & Co. by 227.1% during the first 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 in the last quarter. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $34,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $34,000. Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $37,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $210.98 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $605.86 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The business has a 50-day moving average of $211.61 and a 200 day moving average of $201.64. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results 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. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the company earned $4.37 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. This is an increase 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%.

Analysts Set New Price Targets

Several brokerages recently issued reports on JPM. Morgan Stanley dropped their price objective on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. 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, 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.