Centric Wealth Management Increases Stock Position in JPMorgan Chase & Co. $JPM

Centric Wealth Management raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,034 shares of the financial services provider’s stock after purchasing an additional 241 shares during the period. JPMorgan Chase & Co. makes up about 1.0% of Centric Wealth Management’s investment portfolio, making the stock its 22nd largest holding. Centric Wealth Management’s holdings in JPMorgan Chase & Co. were worth $4,341,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Kingstone Capital Partners Texas LLC increased its holdings in JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after buying an additional 72,885,260 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider’s stock valued at $17,646,506,000 after acquiring an additional 300,160 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after acquiring an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of JPMorgan Chase & Co. by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock worth $4,523,588,000 after acquiring an additional 890,553 shares during the period. Finally, Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $3,972,807,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on JPM shares. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Barclays raised their price target on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. KGI Securities lifted their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft increased their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, November 25th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $326.38.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $313.26 on Monday. The business’s fifty day moving average is $306.89 and its 200 day moving average is $293.45. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $322.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The company has a market capitalization of $852.78 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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 firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter last year, the company earned $4.37 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts predict 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. Shareholders of record on Monday, October 6th were issued a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Insider Buying and Selling

In related news, insider Robin Leopold sold 966 shares of the company’s 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 completion of the transaction, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 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 $24,492,753.58. The trade was a 10.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

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.