Corrado Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,487 shares of the financial services provider’s stock after purchasing an additional 217 shares during the period. JPMorgan Chase & Co. accounts for about 2.0% of Corrado Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Corrado Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,834,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of JPM. Ascension Asset Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $1,280,000. Truvestments Capital LLC lifted its stake in JPMorgan Chase & Co. by 8.9% in the 2nd quarter. Truvestments Capital LLC now owns 2,288 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 187 shares during the last quarter. JGP Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 0.7% during the second quarter. JGP Wealth Management LLC now owns 102,085 shares of the financial services provider’s stock worth $14,847,000 after purchasing an additional 702 shares during the period. Blume Capital Management Inc. increased its position in JPMorgan Chase & Co. by 1.0% during the second quarter. Blume Capital Management Inc. now owns 27,220 shares of the financial services provider’s stock worth $3,959,000 after buying an additional 258 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in JPMorgan Chase & Co. by 0.8% in the second quarter. Quadrant Capital Group LLC now owns 41,769 shares of the financial services provider’s stock valued at $6,075,000 after buying an additional 338 shares during the period. 68.94% of the stock is currently owned by institutional investors.
JPMorgan Chase & Co. Stock Performance
NYSE:JPM opened at $153.29 on Tuesday. The company has a market capitalization of $443.16 billion, a PE ratio of 9.15, a P/E/G ratio of 1.80 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $123.11 and a fifty-two week high of $159.38. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50 day simple moving average of $145.23 and a two-hundred day simple moving average of $145.34.
JPMorgan Chase & Co. Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.74%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, October 5th. JPMorgan Chase & Co.’s payout ratio is currently 25.07%.
Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total value of $624,346.60. Following the transaction, the general counsel now directly owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on JPM. Atlantic Securities boosted their target price on JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. Oppenheimer upped their price objective on shares of JPMorgan Chase & Co. from $233.00 to $243.00 and gave the company an “outperform” rating in a report on Thursday, November 16th. HSBC started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, September 7th. They issued a “hold” rating and a $159.00 price objective on the stock. Odeon Capital Group lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a research note on Thursday, November 2nd. Finally, Jefferies Financial Group cut their price objective on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a research report on Tuesday, October 10th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $168.80.
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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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