Regal Investment Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,900 shares of the financial services provider’s stock after buying an additional 826 shares during the quarter. Regal Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,442,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Smart Portfolios LLC raised its stake in JPMorgan Chase & Co. by 29.6% during the 4th quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 114 shares in the last quarter. Sound Income Strategies LLC grew its position in JPMorgan Chase & Co. by 126.7% during the 2nd quarter. Sound Income Strategies LLC now owns 510 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 285 shares during the last quarter. Asset Planning Services Ltd. purchased a new position in JPMorgan Chase & Co. during the 2nd quarter worth $61,000. Semmax Financial Advisors Inc. purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $56,000. Finally, D Orazio & Associates Inc. grew its position in JPMorgan Chase & Co. by 62.6% during the 4th quarter. D Orazio & Associates Inc. now owns 779 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 71.59% of the company’s stock.
Several research analysts have issued reports on JPM shares. Goldman Sachs Group reissued a “neutral” rating and set a $117.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 22nd. Morgan Stanley set a $122.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Friday, June 28th. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, ValuEngine downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $122.32.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.32. The business had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 9.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Wednesday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 35.56%.
In other news, EVP Peter Scher sold 10,816 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $115.00, for a total value of $1,243,840.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lori A. Beer sold 13,341 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the completion of the sale, the insider now directly owns 10,130 shares in the company, valued at approximately $1,157,656.40. The disclosure for this sale can be found here. 0.76% of the stock is owned by 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.
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