Virtu Financial LLC Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Virtu Financial LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 89.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,640 shares of the financial services provider’s stock after acquiring an additional 2,664 shares during the quarter. Virtu Financial LLC’s holdings in JPMorgan Chase & Co. were worth $1,141,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Retirement Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the period. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $37,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley lowered 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 note on Thursday, September 12th. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $211.09 on Friday. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The company’s fifty day moving average price is $211.61 and its 200-day moving average price is $201.73. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $606.18 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the previous year, the firm earned $4.37 earnings per share. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business 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 2.37%. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 25.66%.

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, 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.