JPMorgan Chase & Co. $JPM Stake Raised by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.7% in the 2nd quarter, Holdings Channel reports. The fund owned 255,261 shares of the financial services provider’s stock after purchasing an additional 6,634 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in JPMorgan Chase & Co. were worth $74,003,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Endowment Wealth Management Inc. lifted its stake in JPMorgan Chase & Co. by 77.5% in the 2nd quarter. Endowment Wealth Management Inc. now owns 1,496 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 653 shares in the last quarter. Concord Asset Management LLC VA raised its stake in shares of JPMorgan Chase & Co. by 8.9% during the 2nd quarter. Concord Asset Management LLC VA now owns 29,143 shares of the financial services provider’s stock worth $8,449,000 after purchasing an additional 2,379 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 3.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 360,312 shares of the financial services provider’s stock worth $104,458,000 after purchasing an additional 11,624 shares in the last quarter. Total Clarity Wealth Management Inc. raised its stake in shares of JPMorgan Chase & Co. by 0.8% during 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 purchasing an additional 90 shares in the last quarter. Finally, Vest Financial LLC raised its stake in shares of JPMorgan Chase & Co. by 5.7% during the 2nd quarter. Vest Financial LLC now owns 194,666 shares of the financial services provider’s stock worth $56,436,000 after purchasing an additional 10,525 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent research reports. Hsbc Global Res downgraded JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Barclays raised their price target on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Finally, Phillip Securities downgraded JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $322.27.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $294.37 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The firm has a market cap of $809.44 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 1.77 and a beta of 1.13. The business’s 50-day simple moving average is $303.23 and its 200-day simple moving average is $280.54. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.83 by $0.24. The company 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 revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.37 EPS. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.