Legacy Financial Advisors Inc. Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Legacy Financial Advisors Inc. lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,516 shares of the financial services provider’s stock after selling 2,198 shares during the quarter. JPMorgan Chase & Co. makes up 1.4% of Legacy Financial Advisors Inc.’s portfolio, making the stock its 16th biggest holding. Legacy Financial Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $7,588,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Retirement Group LLC grew its position in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on JPM shares. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. BMO Capital Markets boosted their target price 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 increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Finally, Piper Sandler raised their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Trading Up 0.1 %

JPM opened at $211.70 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock’s fifty day moving average is $211.60 and its two-hundred day moving average is $202.14. The company has a market capitalization of $607.92 billion, a P/E ratio of 11.81, a PEG ratio of 2.33 and a beta of 1.12. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly 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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter last year, the firm posted $4.37 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.