Sequoia Financial Advisors LLC Purchases 11,624 Shares of JPMorgan Chase & Co. $JPM

Sequoia Financial Advisors LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 360,312 shares of the financial services provider’s stock after buying an additional 11,624 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $104,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Total Clarity Wealth Management Inc. lifted its position in JPMorgan Chase & Co. by 0.8% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 11,325 shares of the financial services provider’s stock worth $3,283,000 after buying an additional 90 shares during the last quarter. Vest Financial LLC lifted its position in JPMorgan Chase & Co. by 5.7% in the 2nd quarter. Vest Financial LLC now owns 194,666 shares of the financial services provider’s stock worth $56,436,000 after buying an additional 10,525 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $485,802,000. Pzena Investment Management LLC lifted its position in JPMorgan Chase & Co. by 9.6% in the 2nd quarter. Pzena Investment Management LLC now owns 342,316 shares of the financial services provider’s stock worth $99,241,000 after buying an additional 30,083 shares during the last quarter. Finally, Lion Street Advisors LLC lifted its position in JPMorgan Chase & Co. by 5.5% in the 2nd quarter. Lion Street Advisors LLC now owns 7,956 shares of the financial services provider’s stock worth $2,306,000 after buying an additional 414 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Phillip Securities downgraded JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday. Bank of America lifted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Daiwa Capital Markets lifted their price target on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Finally, Hsbc Global Res cut JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $319.40.

JPMorgan Chase & Co. Trading Down 2.3%

Shares of NYSE:JPM opened at $298.67 on Friday. The company has a market cap of $821.27 billion, a P/E ratio of 14.79, a PEG ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock’s fifty day moving average price is $302.63 and its 200-day moving average price is $278.17.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.37 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.