Wealth Enhancement Advisory Services LLC Purchases 192,068 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Wealth Enhancement Advisory Services LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,778,395 shares of the financial services provider's stock after buying an additional 192,068 shares during the quarter. JPMorgan Chase & Co. makes up 0.8% of Wealth Enhancement Advisory Services LLC's holdings, making the stock its 18th largest holding. Wealth Enhancement Advisory Services LLC owned about 0.06% of JPMorgan Chase & Co. worth $436,241,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $273.83 on Thursday. The firm has a market capitalization of $760.98 billion, a P/E ratio of 13.44, a PEG ratio of 2.72 and a beta of 1.08. The stock has a 50-day simple moving average of $254.66 and a two-hundred day simple moving average of $251.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. During the same period last year, the business earned $4.44 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.49%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on JPM shares. KGI Securities started coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating for the company. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. UBS Group boosted their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Morgan Stanley reaffirmed an "equal weight" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Hold" and an average target price of $271.70.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,272 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the completion of the transaction, the chief operating officer now directly owns 50,197 shares of the company's stock, valued at $12,400,164.91. This represents a 7.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now owns 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,722 shares of company stock worth $25,599,477 in the last three months. Company insiders own 0.47% of the company's stock.

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.

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