Truewealth LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.4% in the second quarter, HoldingsChannel.com reports. The fund owned 14,033 shares of the financial services provider’s stock after purchasing an additional 967 shares during the quarter. JPMorgan Chase & Co. makes up 0.7% of Truewealth LLC’s holdings, making the stock its 20th largest holding. Truewealth LLC’s holdings in JPMorgan Chase & Co. were worth $1,462,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Elite Wealth Management Inc. raised its holdings in shares of JPMorgan Chase & Co. by 4.1% in the 1st quarter. Elite Wealth Management Inc. now owns 17,891 shares of the financial services provider’s stock worth $1,967,000 after purchasing an additional 701 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.7% in the 1st quarter. Nuveen Asset Management LLC now owns 1,124,172 shares of the financial services provider’s stock worth $123,625,000 after purchasing an additional 29,540 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of JPMorgan Chase & Co. by 7.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 808,379 shares of the financial services provider’s stock worth $88,897,000 after purchasing an additional 53,442 shares in the last quarter. Wealthfront Inc. raised its holdings in shares of JPMorgan Chase & Co. by 14.2% in the 4th quarter. Wealthfront Inc. now owns 139,214 shares of the financial services provider’s stock worth $14,888,000 after purchasing an additional 17,288 shares in the last quarter. Finally, Chilton Investment Co. LLC raised its holdings in shares of JPMorgan Chase & Co. by 3.7% in the 1st quarter. Chilton Investment Co. LLC now owns 15,057 shares of the financial services provider’s stock worth $1,656,000 after purchasing an additional 531 shares in the last quarter. 70.51% of the stock is owned by institutional investors.

In related news, CEO Gordon Smith sold 30,725 shares of the business’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $114.01, for a total transaction of $3,502,957.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by insiders.

JPM has been the topic of a number of research reports. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Credit Suisse Group set a $130.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Thursday, July 12th. Societe Generale reiterated a “neutral” rating and issued a $119.50 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 16th. DZ Bank upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Finally, Goldman Sachs Group reiterated a “neutral” rating and issued a $124.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 16th. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. JPMorgan Chase & Co. has an average rating of “Buy” and a consensus price target of $120.75.

JPM stock opened at $117.85 on Friday. JPMorgan Chase & Co. has a 52-week low of $93.34 and a 52-week high of $119.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18. The company has a market cap of $407.13 billion, a PE ratio of 14.50, a PEG ratio of 1.95 and a beta of 1.16.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 13th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.07. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. The business had revenue of $27.75 billion for the quarter, compared to analyst estimates of $27.62 billion. equities research analysts anticipate that JPMorgan Chase & Co. will post 9.15 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th will be issued a dividend of $0.80 per share. The ex-dividend date is Thursday, October 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s payout ratio is currently 32.61%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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

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