Beacon Financial Advisory LLC Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Beacon Financial Advisory LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,887 shares of the financial services provider’s stock after purchasing an additional 230 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.7% of Beacon Financial Advisory LLC’s holdings, making the stock its 25th largest holding. Beacon Financial Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $2,425,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its position in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the period. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $8,310,884,000. Northern Trust Corp grew its stake in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock worth $5,475,223,000 after buying an additional 1,914,049 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America increased their target price on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, June 10th. Evercore ISI cut their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a report on Friday, June 27th. Finally, TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $273.15.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $290.43 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $292.65. The firm has a 50-day moving average of $263.87 and a 200 day moving average of $253.51. The company has a market cap of $807.13 billion, a P/E ratio of 14.26, a PEG ratio of 2.70 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the prior year, the business earned $4.44 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.93%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the transaction, the chief operating officer owned 68,583 shares of the company’s stock, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the sale, the general counsel owned 36,520 shares in the company, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 in the last ninety days. 0.47% of the stock is owned by company insiders.

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.