JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 6,239.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,418,572 shares of the financial services provider’s stock after buying an additional 1,396,194 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.8% of Granite Bay Wealth Management LLC’s holdings, making the stock its 14th largest holding. Granite Bay Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $277,456,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC increased its stake in JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 89 shares during the last quarter. Retirement Group LLC raised its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the period. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Bare Financial Services Inc acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $35,000. Finally, Partnership Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.2 %

Shares of JPM traded up $0.39 during midday trading on Monday, hitting $206.19. The company had a trading volume of 6,824,124 shares, compared to its average volume of 9,276,000. The stock has a market cap of $592.11 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 2.42 and a beta of 1.12. The company’s 50 day moving average price is $203.58 and its 200 day moving average price is $194.43. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $217.56.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same period in the previous year, the company earned $4.37 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on JPM shares. Royal Bank of Canada restated an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Oppenheimer upped their target price on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Robert W. Baird boosted their price target on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Finally, Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.71.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CEO Marianne Lake sold 11,734 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $200.02, for a total value of $2,347,034.68. Following the completion of the transaction, the chief executive officer now owns 122,740 shares of the company’s stock, valued at $24,550,454.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marianne Lake sold 11,734 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $200.02, for a total value of $2,347,034.68. Following the sale, the chief executive officer now owns 122,740 shares in the company, valued at $24,550,454.80. The disclosure for this sale can be found here. Insiders have sold 26,533 shares of company stock worth $5,310,756 over the last ninety days. 0.79% of the stock is owned by insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.