Fortitude Advisory Group L.L.C. Has $2.44 Million Holdings in JPMorgan Chase & Co. $JPM

Fortitude Advisory Group L.L.C. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,417 shares of the financial services provider’s stock after selling 272 shares during the period. JPMorgan Chase & Co. comprises approximately 1.4% of Fortitude Advisory Group L.L.C.’s investment portfolio, making the stock its 14th biggest holding. Fortitude Advisory Group L.L.C.’s holdings in JPMorgan Chase & Co. were worth $2,440,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $37,000. Christopher J. Hasenberg Inc raised its holdings in shares of JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth $76,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent analyst reports. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Finally, Daiwa Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $316.00.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Down 1.4%

JPM stock opened at $301.12 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a fifty day moving average price of $301.61 and a two-hundred day moving average price of $276.98. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The stock has a market cap of $828.00 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same period in the previous year, the business posted $6.12 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 30.79%.

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.