Anchor Investment Management LLC Purchases 1,195 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Anchor Investment Management LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 39,993 shares of the financial services provider’s stock after acquiring an additional 1,195 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Anchor Investment Management LLC’s portfolio, making the stock its 29th largest holding. Anchor Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,089,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Wealth Strategies LLC. purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $1,145,000. Cooper Financial Group grew its position in shares of 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 in the last quarter. Spartan Planning & Wealth Management raised its stake in shares of JPMorgan Chase & Co. by 257.3% during the 4th 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 period. jvl associates llc lifted its holdings in JPMorgan Chase & Co. by 59.8% during the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 715 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV boosted its stake in JPMorgan Chase & Co. by 1.3% in the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock worth $5,201,000 after purchasing an additional 330 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JPM has been the topic of several analyst reports. Barclays upped their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $220.00 to $224.00 in a report on Monday. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods upped their target price on 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. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.13.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $207.24 on Thursday. The firm has a market cap of $595.12 billion, a P/E ratio of 11.56, a P/E/G ratio of 2.39 and a beta of 1.12. The firm’s fifty day moving average is $211.39 and its 200 day moving average is $202.88. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. 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 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders 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 represents a $5.00 annualized dividend and a yield of 2.41%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

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.