326,619 Shares in JPMorgan Chase & Co. (NYSE:JPM) Bought by Prana Capital Management LP

Prana Capital Management LP bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 326,619 shares of the financial services provider’s stock, valued at approximately $50,802,000. JPMorgan Chase & Co. comprises 3.5% of Prana Capital Management LP’s holdings, making the stock its 8th biggest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Ironwood Wealth Management LLC. raised its holdings in shares of JPMorgan Chase & Co. by 12.1% during the first quarter. Ironwood Wealth Management LLC. now owns 14,173 shares of the financial services provider’s stock valued at $2,158,000 after buying an additional 1,525 shares during the last quarter. Quilter Plc boosted its position in JPMorgan Chase & Co. by 7.1% during the 1st quarter. Quilter Plc now owns 574,056 shares of the financial services provider’s stock worth $87,389,000 after acquiring an additional 37,926 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $442,000. Algert Global LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $315,000. Finally, BDO Wealth Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 42.2% during the first quarter. BDO Wealth Advisors LLC now owns 44,554 shares of the financial services provider’s stock valued at $6,782,000 after purchasing an additional 13,224 shares in the last quarter. 69.67% of the stock is owned by institutional investors.

JPMorgan Chase & Co. stock traded down $0.87 during midday trading on Wednesday, reaching $170.53. The stock had a trading volume of 131,133 shares, compared to its average volume of 13,454,614. JPMorgan Chase & Co. has a twelve month low of $95.24 and a twelve month high of $172.96. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $509.57 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 2.24 and a beta of 1.20. The firm’s fifty day simple moving average is $161.41 and its two-hundred day simple moving average is $157.94.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, October 13th. The financial services provider reported $3.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.74. JPMorgan Chase & Co. had a return on equity of 19.26% and a net margin of 37.71%. The company had revenue of $29.60 billion during the quarter, compared to analyst estimates of $29.63 billion. During the same quarter in the prior year, the company earned $2.92 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 14.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 31st. Stockholders of record on Wednesday, October 6th will be paid a dividend of $1.00 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, October 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.35%. JPMorgan Chase & Co.’s dividend payout ratio is 45.05%.

A number of equities analysts recently issued reports on JPM shares. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $150.00 to $166.00 and gave the company an “underweight” rating in a research report on Thursday, July 29th. Royal Bank of Canada increased their price objective on shares of JPMorgan Chase & Co. from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, October 14th. BMO Capital Markets boosted their target price on JPMorgan Chase & Co. from $139.00 to $140.00 and gave the stock a “market perform” rating in a report on Thursday, October 14th. Barclays upped their target price on JPMorgan Chase & Co. from $187.00 to $193.00 and gave the stock an “overweight” rating in a research report on Friday, October 15th. Finally, The Goldman Sachs Group set a $198.00 price target on JPMorgan Chase & Co. in a research note on Wednesday, October 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Buy” and an average price target of $168.56.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

Further Reading: Earnings Reports

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.