Creative Planning Buys 36,954 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Creative Planning raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,104,369 shares of the financial services provider’s stock after acquiring an additional 36,954 shares during the period. Creative Planning’s holdings in JPMorgan Chase & Co. were worth $223,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on JPM. Oppenheimer raised their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $210.50 on Friday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The stock has a market capitalization of $598.91 billion, a PE ratio of 11.74, a PEG ratio of 2.39 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 has a 50-day simple moving average of $211.47 and a 200-day simple moving average of $202.50.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the previous year, the firm earned $4.37 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal 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 issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

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.