Strong Tower Advisory Services Acquires 2,247 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Strong Tower Advisory Services grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 34.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,795 shares of the financial services provider’s stock after buying an additional 2,247 shares during the period. Strong Tower Advisory Services’ holdings in JPMorgan Chase & Co. were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Stone House Investment Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after buying an additional 89 shares in the last quarter. Retirement Group LLC increased its holdings in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the period. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Bare Financial Services Inc bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $35,000. Finally, Partnership Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $36,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Lori A. Beer sold 5,298 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.64, for a total value of $1,062,990.72. Following the sale, the insider now owns 46,375 shares in the company, valued at $9,304,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now owns 42,124 shares in the company, valued at $8,452,180.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,799 shares of company stock worth $2,963,721. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Down 0.3 %

Shares of JPM stock traded down $0.54 during mid-day trading on Tuesday, hitting $205.65. The company’s stock had a trading volume of 991,047 shares, compared to its average volume of 9,220,714. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $217.56. The business has a 50-day moving average price of $203.66 and a 200 day moving average price of $194.67. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. The stock has a market cap of $590.56 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results 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. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the prior year, the firm earned $4.37 EPS. Research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

Analyst Upgrades and Downgrades

Several research firms recently commented on JPM. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Citigroup increased their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, UBS Group raised their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.71.

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.