Spectrum Wealth Advisory Group LLC Buys New Holdings in JPMorgan Chase & Co. $JPM

Spectrum Wealth Advisory Group LLC purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, Holdings Channel reports. The firm purchased 791 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other large investors also recently modified their holdings of JPM. Mosaic Financial Group LLC lifted its stake in JPMorgan Chase & Co. by 0.8% during 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 during the last quarter. Creative Planning raised its holdings in JPMorgan Chase & Co. by 2.2% during the second quarter. Creative Planning now owns 1,364,887 shares of the financial services provider’s stock worth $395,695,000 after purchasing an additional 29,844 shares in the last quarter. Aviva PLC lifted its position in shares of JPMorgan Chase & Co. by 6.0% during 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. lifted its position 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 buying an additional 182 shares during the last quarter. Finally, Gladwyn Financial Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $534,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 1.3%

JPMorgan Chase & Co. stock opened at $308.89 on Tuesday. The stock has a 50 day moving average of $306.82 and a two-hundred day moving average of $293.74. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $322.25. The stock has a market capitalization of $840.88 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.84 and a beta of 1.14. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the prior year, the business earned $4.37 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Wall Street Analyst Weigh In

Several brokerages recently commented on JPM. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Truist Financial raised their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $366.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Evercore ISI raised their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Finally, UBS Group lifted their price target on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $326.38.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the sale, the insider owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by corporate insiders.

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.