New Wave Wealth Advisors LLC Purchases Shares of 1,059 JPMorgan Chase & Co. (NYSE:JPM)

New Wave Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,059 shares of the financial services provider’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors also recently modified their holdings of JPM. Retirement Group LLC increased 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 worth $31,000 after buying an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth $34,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $34,000. Finally, Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.8 %

JPM stock opened at $207.04 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 quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a market cap of $594.55 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. The business has a 50 day moving average of $211.42 and a 200 day moving average of $202.85.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same quarter last year, the company earned $4.37 EPS. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.41%. 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 (DPR) is 27.89%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Oppenheimer upped 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. BMO Capital Markets upped their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $220.00 to $224.00 in a report on Monday. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $211.31.

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.