JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Wallace Advisory Group LLC

Wallace Advisory Group LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 19.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,527 shares of the financial services provider’s stock after selling 1,294 shares during the period. JPMorgan Chase & Co. makes up 0.8% of Wallace Advisory Group LLC’s portfolio, making the stock its 27th biggest position. Wallace Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,118,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in JPM. Gilbert & Cook Inc. boosted its holdings in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 11,360 shares of the financial services provider’s stock worth $1,932,000 after acquiring an additional 164 shares during the period. Aveo Capital Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 13.0% in the fourth quarter. Aveo Capital Partners LLC now owns 5,151 shares of the financial services provider’s stock valued at $876,000 after purchasing an additional 591 shares during the period. Prudent Man Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 3.4% in the fourth quarter. Prudent Man Advisors LLC now owns 20,752 shares of the financial services provider’s stock valued at $3,530,000 after purchasing an additional 677 shares during the period. Poehling Capital Management INC. grew its holdings in JPMorgan Chase & Co. by 1.4% during the 4th quarter. Poehling Capital Management INC. now owns 20,991 shares of the financial services provider’s stock valued at $3,571,000 after purchasing an additional 295 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in JPMorgan Chase & Co. by 4.0% during the 4th quarter. Jones Financial Companies Lllp now owns 134,463 shares of the financial services provider’s stock worth $22,872,000 after buying an additional 5,182 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $210.50 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $604.49 billion, a P/E ratio of 11.74, a PEG ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The stock has a fifty day moving average price of $211.47 and a 200 day moving average price of $202.57.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same period last year, the firm posted $4.37 EPS. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 annualized dividend and a dividend yield of 2.38%. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

Analyst Ratings Changes

Several analysts have recently weighed in on JPM shares. Evercore ISI raised their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Finally, Barclays increased 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. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $211.06.

About JPMorgan Chase & Co.

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.