Elevatus Welath Management Raises Stake in JPMorgan Chase & Co. $JPM

Elevatus Welath Management grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 258.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,766 shares of the financial services provider’s stock after purchasing an additional 10,650 shares during the quarter. JPMorgan Chase & Co. makes up about 1.4% of Elevatus Welath Management’s investment portfolio, making the stock its 24th largest holding. Elevatus Welath Management’s holdings in JPMorgan Chase & Co. were worth $4,281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mosaic Financial Group LLC raised its holdings in JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 78 shares in the last quarter. Creative Planning boosted its holdings in shares of JPMorgan Chase & Co. by 2.2% in the 2nd quarter. Creative Planning now owns 1,364,887 shares of the financial services provider’s stock valued at $395,695,000 after buying an additional 29,844 shares in the last quarter. Aviva PLC grew its position in shares of JPMorgan Chase & Co. by 6.0% in the 2nd quarter. Aviva PLC now owns 2,232,458 shares of the financial services provider’s stock worth $647,212,000 after buying an additional 126,742 shares during the last quarter. Kelman Lazarov Inc. raised its stake in shares of JPMorgan Chase & Co. by 16.9% during the 2nd quarter. Kelman Lazarov Inc. now owns 1,257 shares of the financial services provider’s stock worth $364,000 after acquiring an additional 182 shares in the last quarter. Finally, Gladwyn Financial Advisors Inc. purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $534,000. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

JPM has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of JPMorgan Chase & Co. from $355.00 to $354.00 and set a “buy” rating on the stock in a report on Friday, December 5th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Barclays increased their price target on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Finally, KGI Securities increased their price objective on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $325.48.

Insider Activity

In related news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction on Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their position. 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 owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.4%

NYSE JPM opened at $318.74 on Friday. The company has a market capitalization of $867.69 billion, a PE ratio of 15.79, a P/E/G ratio of 1.64 and a beta of 1.08. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $322.25. The company has a fifty day moving average of $306.77 and a 200 day moving average of $296.41. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86.

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 for the quarter, beating the consensus estimate of $4.83 by $0.24. The company had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $4.37 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Tuesday, January 6th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

JPMorgan Chase & Co. 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.