Sunbelt Securities Inc. Acquires 292 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sunbelt Securities Inc. raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,821 shares of the financial services provider’s stock after buying an additional 292 shares during the period. Sunbelt Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $5,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of JPM. Retirement Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth approximately $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $34,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Oppenheimer raised their price objective on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Wells Fargo & Company raised 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. Citigroup raised their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group raised their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $210.50 on Monday. The firm has a fifty day moving average of $211.47 and a two-hundred day moving average of $202.57. The stock has a market capitalization of $604.49 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the previous year, the company posted $4.37 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared 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 is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. JPMorgan Chase & Co.’s payout ratio is 27.89%.

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.