Fortis Group Advisors LLC Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Fortis Group Advisors LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 522.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,567 shares of the financial services provider's stock after acquiring an additional 6,352 shares during the period. Fortis Group Advisors LLC's holdings in JPMorgan Chase & Co. were worth $1,856,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Florida Financial Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after acquiring an additional 3,792 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $471,000. Crown Wealth Group LLC lifted its position in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after acquiring an additional 222 shares in the last quarter. Hidden Cove Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after acquiring an additional 112 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 6.4% during the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider's stock worth $4,953,000 after acquiring an additional 1,218 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.6%

Shares of NYSE:JPM traded up $1.91 on Friday, reaching $298.46. 5,918,228 shares of the company traded hands, compared to its average volume of 9,347,400. The business's 50-day simple moving average is $277.68 and its 200 day simple moving average is $259.88. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $299.59. The stock has a market capitalization of $829.45 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $6.12 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced 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 dividend yield of 1.88%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 over the last three months. Company insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

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.