Wealthquest Corp Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Wealthquest Corp reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,870 shares of the financial services provider’s stock after selling 166 shares during the period. Wealthquest Corp’s holdings in JPMorgan Chase & Co. were worth $1,794,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of JPM. Instrumental Wealth LLC increased its stake in shares of JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the last quarter. Gemmer Asset Management LLC grew its stake in JPMorgan Chase & Co. by 1.6% during the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after buying an additional 48 shares in the last quarter. Great Point Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 0.9% in the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock valued at $1,151,000 after acquiring an additional 48 shares during the last quarter. Northside Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after buying an additional 50 shares during the last quarter. Finally, Highland Financial Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock valued at $1,427,000 after purchasing an additional 50 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Oppenheimer raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Barclays lifted their target price on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group lifted their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.31.

JPMorgan Chase & Co. Stock Up 0.1 %

Shares of NYSE JPM opened at $210.79 on Tuesday. The firm has a market cap of $605.32 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. The company’s 50-day simple moving average is $211.48 and its 200-day simple moving average is $202.73. 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.

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 for the quarter, beating the consensus estimate 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 business 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 company posted $4.37 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 4th. This is an increase 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%. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

JPMorgan Chase & Co. 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.