Koshinski Asset Management Inc. Has $4.24 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

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Koshinski Asset Management Inc. raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 45,055 shares of the financial services provider’s stock after purchasing an additional 1,060 shares during the quarter. JPMorgan Chase & Co. accounts for 0.7% of Koshinski Asset Management Inc.’s investment portfolio, making the stock its 27th largest holding. Koshinski Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $4,238,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Carl P. Sherr & Co. LLC boosted its holdings in JPMorgan Chase & Co. by 11.4% during the second quarter. Carl P. Sherr & Co. LLC now owns 5,437 shares of the financial services provider’s stock worth $511,000 after buying an additional 558 shares during the last quarter. Avestar Capital LLC raised its position in shares of JPMorgan Chase & Co. by 5.3% during the second quarter. Avestar Capital LLC now owns 9,133 shares of the financial services provider’s stock worth $859,000 after purchasing an additional 460 shares during the period. Trust Co. of Virginia VA lifted its holdings in shares of JPMorgan Chase & Co. by 8.0% during the 2nd quarter. Trust Co. of Virginia VA now owns 94,620 shares of the financial services provider’s stock valued at $8,900,000 after purchasing an additional 7,034 shares in the last quarter. Deltec Asset Management LLC grew its position in shares of JPMorgan Chase & Co. by 31.0% in the 2nd quarter. Deltec Asset Management LLC now owns 4,225 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 1,000 shares during the period. Finally, Stelac Advisory Services LLC increased its stake in JPMorgan Chase & Co. by 8.6% during the 2nd quarter. Stelac Advisory Services LLC now owns 11,359 shares of the financial services provider’s stock worth $1,068,000 after purchasing an additional 899 shares in the last quarter. 71.35% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:JPM opened at $96.64 on Friday. JPMorgan Chase & Co. has a 52-week low of $76.91 and a 52-week high of $141.10. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market capitalization of $294.46 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 3.24 and a beta of 1.19. The company has a 50-day simple moving average of $96.77 and a 200 day simple moving average of $105.48.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. JPMorgan Chase & Co. had a return on equity of 10.75% and a net margin of 18.16%. The firm had revenue of $32.98 billion for the quarter, compared to analyst estimates of $30.23 billion. During the same quarter in the prior year, the company earned $2.82 earnings per share. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 5.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 6th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Thursday, July 2nd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.

Several equities research analysts have recently issued reports on the stock. Goldman Sachs Group raised shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research report on Friday, July 24th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $113.00 target price for the company in a report on Thursday, July 9th. Berenberg Bank lifted their price target on JPMorgan Chase & Co. from $77.00 to $80.00 and gave the company a “sell” rating in a research note on Monday, July 20th. DA Davidson raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $102.00 to $117.00 in a research report on Thursday, July 9th. Finally, ValuEngine raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. JPMorgan Chase & Co. presently has an average rating of “Buy” and a consensus price target of $110.89.

In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 24,554 shares of the firm’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $99.52, for a total transaction of $2,443,614.08. 0.78% of the stock is currently owned by corporate insiders.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

Further Reading: Range Trading

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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