Kiely Wealth Advisory Group Inc. Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Kiely Wealth Advisory Group Inc. lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,179 shares of the financial services provider’s stock after acquiring an additional 116 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.2% of Kiely Wealth Advisory Group Inc.’s portfolio, making the stock its 20th largest position. Kiely Wealth Advisory Group Inc.’s holdings in JPMorgan Chase & Co. were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Wellington Wealth Strategies LLC. purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $1,145,000. Cooper Financial Group boosted its holdings in 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 valued at $1,741,000 after purchasing an additional 984 shares during the last quarter. Spartan Planning & Wealth Management boosted its holdings 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 last quarter. jvl associates llc boosted its holdings in JPMorgan Chase & Co. by 59.8% in the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 715 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV boosted its holdings in JPMorgan Chase & Co. by 1.3% in 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 last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.1 %

Shares of JPMorgan Chase & Co. stock opened at $211.70 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $607.92 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.33 and a beta of 1.12. The business’s 50 day simple moving average is $211.60 and its 200-day simple moving average is $202.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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 analysts’ expectations of $42.23 billion. During the same period last year, the firm earned $4.37 EPS. Equities research 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 announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given 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 2.36%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JPM. Citigroup increased their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. BMO Capital Markets increased their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Jefferies Financial Group increased their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Oppenheimer increased their target price on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $211.06.

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.