Rainey & Randall Wealth Advisors Inc. Acquires New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Rainey & Randall Wealth Advisors Inc. acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,190 shares of the financial services provider's stock, valued at approximately $292,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after acquiring an additional 4,841 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after acquiring an additional 1,229 shares during the period. Highview Capital Management LLC DE grew its holdings in shares of JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after acquiring an additional 1,893 shares during the period. KKM Financial LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after acquiring an additional 640 shares during the period. Finally, Bowen Hanes & Co. Inc. grew its holdings in shares of JPMorgan Chase & Co. by 1.4% during the 4th quarter. Bowen Hanes & Co. Inc. now owns 264,210 shares of the financial services provider's stock worth $63,334,000 after acquiring an additional 3,553 shares during the period. Institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on JPM shares. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. HSBC reaffirmed a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Buying and Selling

In other news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction 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. This trade represents a 8.94% 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 valued at $18,060,015 in the last quarter. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.5%

JPM stock opened at $291.22 on Friday. The company has a market capitalization of $809.33 billion, a P/E ratio of 14.94, a PEG ratio of 2.54 and a beta of 1.10. The firm has a 50 day simple moving average of $274.67 and a 200-day simple moving average of $258.05. 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. has a twelve month low of $190.90 and a twelve month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business 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 earned $6.12 earnings per share. The company's revenue was down 10.5% on a year-over-year basis. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued 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 1.92%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

JPMorgan Chase & Co. 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.

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