Meridian Wealth Partners LLC Acquires 241 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Meridian Wealth Partners LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,386 shares of the financial services provider’s stock after buying an additional 241 shares during the period. Meridian Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Group LLC increased its holdings in JPMorgan Chase & Co. by 227.1% in the 1st 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 position in JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the first quarter worth $34,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $34,000. Finally, Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JPM has been the topic of a number of recent analyst reports. Citigroup lifted their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods raised their target price 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. Morgan Stanley decreased their price target 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. Jefferies Financial Group raised their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $211.09 on Friday. The company’s fifty day moving average price is $211.61 and its 200-day moving average price is $201.73. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $606.18 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate 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 firm posted $4.37 earnings per share. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued 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 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.