ProVise Management Group LLC Has $24.03 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

ProVise Management Group LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,781 shares of the financial services provider’s stock after selling 358 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.0% of ProVise Management Group LLC’s investment portfolio, making the stock its 11th largest position. ProVise Management Group LLC’s holdings in JPMorgan Chase & Co. were worth $24,025,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Retirement Group LLC increased its stake in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $34,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JPM shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Citigroup lifted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Oppenheimer upped their target price on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets lifted their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Barclays increased their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Stock Up 0.2 %

Shares of NYSE:JPM opened at $211.44 on Tuesday. The stock’s 50-day moving average is $211.64 and its 200 day moving average is $201.98. The company has a market cap of $607.19 billion, a PE ratio of 11.79, a P/E/G ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.36%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 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.