Financial Advocates Investment Management Has $3.94 Million Holdings in JPMorgan Chase & Co. $JPM

Financial Advocates Investment Management decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 29.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,604 shares of the financial services provider’s stock after selling 5,697 shares during the period. Financial Advocates Investment Management’s holdings in JPMorgan Chase & Co. were worth $3,944,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. grew its stake in shares of JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 90 shares in the last quarter. 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. bought a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $37,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in 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 worth $45,000 after purchasing an additional 106 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.3%

Shares of NYSE:JPM opened at $307.84 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-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 $838.02 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The company has a 50-day simple moving average of $306.73 and a 200 day simple moving average of $294.02.

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

JPMorgan Chase & Co. Increases Dividend

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

Insiders Place Their Bets

In other news, insider Robin Leopold sold 966 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at approximately $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 accessible through this link. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wolfe Research lifted their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Evercore ISI upped their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Truist Financial increased their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. Finally, DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $326.38.

JPMorgan Chase & Co. Company 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.