B. Riley Wealth Advisors Inc. lessened its position in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 13.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,404 shares of the financial services provider’s stock after selling 21,563 shares during the period. JPMorgan Chase & Co. makes up 0.7% of B. Riley Wealth Advisors Inc.’s portfolio, making the stock its 19th biggest position. B. Riley Wealth Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $28,600,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of JPM. Ecofi Investissements SA bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $913,000. Wallace Capital Management Inc. increased its stake in shares of JPMorgan Chase & Co. by 13.3% during the second quarter. Wallace Capital Management Inc. now owns 2,131 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 250 shares during the period. Kampmann Melissa S. raised its holdings in JPMorgan Chase & Co. by 1.4% during the second quarter. Kampmann Melissa S. now owns 22,051 shares of the financial services provider’s stock worth $4,460,000 after purchasing an additional 304 shares in the last quarter. High Falls Advisors Inc lifted its position in JPMorgan Chase & Co. by 6.4% in the second quarter. High Falls Advisors Inc now owns 6,111 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 368 shares during the period. Finally, Quarry LP lifted its position in JPMorgan Chase & Co. by 1,062.1% in the second quarter. Quarry LP now owns 337 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 308 shares during the period. 71.55% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Barclays lifted their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Morgan Stanley lowered their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.06.
JPMorgan Chase & Co. Stock Performance
JPM stock opened at $210.50 on Monday. The firm has a 50 day moving average of $211.47 and a two-hundred day moving average of $202.57. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The company has a market capitalization of $604.49 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 2.39 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $4.37 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. 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 dividend payout ratio is 27.89%.
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.
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