Sunbelt Securities Inc. Has $5.83 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Sunbelt Securities Inc. grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 28,821 shares of the financial services provider’s stock after acquiring an additional 292 shares during the period. Sunbelt Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $5,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in JPM. Retirement Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter worth $32,000. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth $34,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter worth $34,000. Finally, Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of JPM stock opened at $210.50 on Monday. 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 firm’s 50-day moving average is $211.47 and its 200-day moving average is $202.57. The stock has a market cap of $604.49 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.39 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 issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the prior year, the firm earned $4.37 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price 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. Keefe, Bruyette & Woods upped their target price on shares of 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. Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company 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.