JPMorgan Chase & Co. (NYSE:JPM) Shares Acquired by RiverFront Investment Group LLC

RiverFront Investment Group LLC raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 104.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,513 shares of the financial services provider’s stock after buying an additional 63,571 shares during the quarter. RiverFront Investment Group LLC’s holdings in JPMorgan Chase & Co. were worth $25,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of JPM. Wellington Wealth Strategies LLC. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $1,145,000. Cooper Financial Group increased its position in shares of JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after acquiring an additional 984 shares in the last quarter. Spartan Planning & Wealth Management raised its position in JPMorgan Chase & Co. by 257.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 2,722 shares during the period. jvl associates llc raised its holdings in shares of JPMorgan Chase & Co. by 59.8% during the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after buying an additional 715 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV raised its stake in shares of JPMorgan Chase & Co. by 1.3% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock valued at $5,201,000 after purchasing an additional 330 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on JPM shares. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $220.00 to $224.00 in a research note on Monday. Oppenheimer raised their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Barclays upped their target price on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Jefferies Financial Group upped their price objective 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, BMO Capital Markets upped their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $207.04 on Wednesday. The business has a 50 day simple moving average of $211.42 and a 200 day simple moving average of $202.85. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The stock has a market cap of $594.55 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the company earned $4.37 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business 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 is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.