Abound Wealth Management Boosts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Abound Wealth Management boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 123.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,236 shares of the financial services provider’s stock after acquiring an additional 1,788 shares during the quarter. Abound Wealth Management’s holdings in JPMorgan Chase & Co. were worth $654,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of JPM. Retirement Group LLC raised its position in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $34,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $34,000. Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JPM shares. Oppenheimer boosted their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Barclays boosted their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Finally, BMO Capital Markets raised their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Stock Up 1.4 %

Shares of JPM stock opened at $210.48 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. The firm has a market capitalization of $604.43 billion, a PE ratio of 11.74, 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 quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day simple moving average is $211.49 and its 200-day simple moving average is $201.47.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same period last year, the firm posted $4.37 EPS. Equities analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.38%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend 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.