Oppenheimer Asset Management Inc. Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Oppenheimer Asset Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 612,387 shares of the financial services provider’s stock after acquiring an additional 80,338 shares during the period. JPMorgan Chase & Co. makes up about 1.6% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 4th biggest position. Oppenheimer Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $123,861,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in JPM. Retirement Group LLC grew its position 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 during the period. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $34,000. Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $37,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $40,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. BMO Capital Markets raised their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Citigroup boosted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Morgan Stanley lowered their target price on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Finally, Oppenheimer upped their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Trading Down 0.8 %

JPM opened at $207.60 on Thursday. The firm has a 50 day simple moving average of $211.43 and a 200 day simple moving average of $201.40. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. The company has a market cap of $596.16 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick 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. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share 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 paid a $1.25 dividend. 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. This represents a $5.00 annualized dividend and a yield of 2.41%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

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.