JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 880,314 shares of the financial services provider’s stock after selling 95,794 shares during the quarter. Cetera Investment Advisers’ holdings in JPMorgan Chase & Co. were worth $178,052,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Group LLC grew its position in JPMorgan Chase & Co. by 227.1% during 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 shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Finally, Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on JPM shares. Jefferies Financial Group raised their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. BMO Capital Markets lifted their price target 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. Keefe, Bruyette & Woods upped their price objective on shares of 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. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Finally, Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $224.00 in a research note on Monday. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

JPMorgan Chase & Co. Stock Up 0.1 %

Shares of JPM opened at $210.79 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $211.48 and a two-hundred day simple moving average of $202.73. The company has a market capitalization of $605.32 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12.

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. The firm 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 period last year, the business earned $4.37 earnings per share. As a group, equities analysts forecast 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 given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

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.