Tennessee Valley Asset Management Partners Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Tennessee Valley Asset Management Partners grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,922 shares of the financial services provider’s stock after acquiring an additional 470 shares during the period. Tennessee Valley Asset Management Partners’ holdings in JPMorgan Chase & Co. were worth $1,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Retirement Group LLC raised its holdings in 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 acquiring an additional 109 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $34,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $37,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $210.48 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a 50 day simple moving average of $211.49 and a 200-day simple moving average of $201.47. The company has a market cap of $604.43 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. 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 released its quarterly earnings data 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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the prior year, the business posted $4.37 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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 is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

Analyst Ratings Changes

JPM has been the subject of a number of research reports. Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Jefferies Financial Group boosted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Citigroup increased their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

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.