Stoneridge Investment Partners LLC Buys 9,479 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Stoneridge Investment Partners LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 81.2% during the second quarter, HoldingsChannel.com reports. The fund owned 21,146 shares of the financial services provider’s stock after buying an additional 9,479 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.6% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 15th biggest holding. Stoneridge Investment Partners LLC’s holdings in JPMorgan Chase & Co. were worth $4,277,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of JPM. Dai ichi Life Insurance Company Ltd increased its stake in shares of JPMorgan Chase & Co. by 2.6% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 193,115 shares of the financial services provider’s stock valued at $39,059,000 after buying an additional 4,975 shares during the period. O Neil Global Advisors Inc. bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth about $303,000. Westover Capital Advisors LLC increased its position in JPMorgan Chase & Co. by 12.0% during the 2nd quarter. Westover Capital Advisors LLC now owns 43,162 shares of the financial services provider’s stock valued at $8,730,000 after purchasing an additional 4,631 shares during the period. CoreCap Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $5,341,000. Finally, SYM FINANCIAL Corp lifted its position in shares of JPMorgan Chase & Co. by 1.2% in the 2nd quarter. SYM FINANCIAL Corp now owns 4,848 shares of the financial services provider’s stock worth $981,000 after purchasing an additional 59 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley cut their price objective on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Jefferies Financial Group upped their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Stock Down 0.8 %

Shares of JPM stock opened at $207.60 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. The firm has a market capitalization of $596.16 billion, a PE ratio of 11.58, a P/E/G ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day simple moving average is $211.43 and its 200-day simple moving average is $201.40.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping 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 company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the prior year, the company earned $4.37 EPS. Equities analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date 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 yield of 2.41%. JPMorgan Chase & Co.’s payout ratio is currently 25.66%.

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.