Demars Financial Group LLC Takes $93,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

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Demars Financial Group LLC bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 98,995 shares of the financial services provider’s stock, valued at approximately $93,000.

Several other hedge funds have also added to or reduced their stakes in the company. Capital World Investors raised its holdings in JPMorgan Chase & Co. by 9.9% in the 1st quarter. Capital World Investors now owns 91,033,221 shares of the financial services provider’s stock worth $8,195,754,000 after acquiring an additional 8,187,609 shares during the last quarter. Geode Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 45,078,060 shares of the financial services provider’s stock worth $4,050,836,000 after acquiring an additional 666,292 shares during the last quarter. Morgan Stanley grew its position in JPMorgan Chase & Co. by 6.4% in the 1st quarter. Morgan Stanley now owns 37,812,884 shares of the financial services provider’s stock worth $3,404,295,000 after purchasing an additional 2,262,845 shares during the period. Bank of New York Mellon Corp grew its position in JPMorgan Chase & Co. by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 31,592,855 shares of the financial services provider’s stock worth $2,844,306,000 after purchasing an additional 175,979 shares during the period. Finally, Legal & General Group Plc grew its position in JPMorgan Chase & Co. by 2.2% in the 1st quarter. Legal & General Group Plc now owns 19,233,532 shares of the financial services provider’s stock worth $1,735,777,000 after purchasing an additional 409,477 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Shares of JPM traded up $0.42 during trading hours on Wednesday, reaching $99.70. 19,214,685 shares of the stock traded hands, compared to its average volume of 20,919,412. The company has a market cap of $303.85 billion, a P/E ratio of 13.45, a price-to-earnings-growth ratio of 3.39 and a beta of 1.16. JPMorgan Chase & Co. has a 52-week low of $76.91 and a 52-week high of $141.10. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.35. The company’s 50-day moving average price is $100.11 and its two-hundred day moving average price is $97.15.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.34 by $0.04. The business had revenue of $32.98 billion for the quarter, compared to analysts’ expectations of $30.23 billion. JPMorgan Chase & Co. had a net margin of 18.16% and a return on equity of 10.75%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.82 EPS. On average, research analysts forecast that JPMorgan Chase & Co. will post 5.96 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.61%. JPMorgan Chase & Co.’s payout ratio is currently 34.35%.

JPM has been the subject of a number of research analyst reports. Seaport Global Securities initiated coverage on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 8th. They issued a “buy” rating and a $119.00 target price for the company. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $113.00 target price for the company in a research report on Thursday, July 9th. Deutsche Bank raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $105.00 to $115.00 in a research report on Thursday, September 3rd. DA Davidson raised shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $102.00 to $117.00 in a research report on Thursday, July 9th. Finally, 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $111.37.

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

JPMorgan Chase & Co. 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 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: Economic Reports

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

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