Park Avenue Securities LLC Purchases New Holdings in JPMorgan Chase & Co. $JPM

Park Avenue Securities LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 157,589 shares of the financial services provider’s stock, valued at approximately $45,687,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. in the first quarter valued at about $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $33,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $37,000. Finally, Christopher J. Hasenberg Inc boosted its position in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on JPM shares. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an “outperform” rating in a research note on Monday, July 7th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Monday, July 7th. Finally, Bank of America lifted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $292.78.

JPMorgan Chase & Co. Trading Up 0.0%

Shares of JPM stock opened at $312.53 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $316.31. The stock’s fifty day simple moving average is $297.43 and its 200 day simple moving average is $270.22. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $859.37 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.07 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping 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 company had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same period in the previous year, the business posted $6.12 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a $1.50 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

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.