Sonora Investment Management Group LLC Raises Holdings in JPMorgan Chase & Co. $JPM

Sonora Investment Management Group LLC boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 115,767 shares of the financial services provider’s stock after purchasing an additional 1,358 shares during the period. JPMorgan Chase & Co. accounts for about 2.5% of Sonora Investment Management Group LLC’s holdings, making the stock its 7th largest position. Sonora Investment Management Group LLC’s holdings in JPMorgan Chase & Co. were worth $33,562,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Ryan Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $37,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $33,000. Finally, Christopher J. Hasenberg Inc boosted its position in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after buying an additional 106 shares during the period. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $307.65 on Friday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The stock has a fifty day moving average price of $300.44 and a 200-day moving average price of $273.96. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market cap of $845.96 billion, a PE ratio of 15.79, a P/E/G ratio of 2.05 and a beta of 1.13.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JPM. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus price target of $303.45.

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.