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Xcel Wealth Management LLC Purchases 7,325 Shares of JPMorgan Chase & Co. (NYSE:JPM)

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Xcel Wealth Management LLC raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,938 shares of the financial services provider’s stock after acquiring an additional 7,325 shares during the quarter. JPMorgan Chase & Co. makes up about 2.4% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 13th largest holding. Xcel Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KLCM Advisors Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.5% during the 4th quarter. KLCM Advisors Inc. now owns 12,800 shares of the financial services provider’s stock worth $2,027,000 after purchasing an additional 69 shares in the last quarter. Hurlow Wealth Management Group Inc. grew its stake in JPMorgan Chase & Co. by 1.1% during the fourth quarter. Hurlow Wealth Management Group Inc. now owns 6,166 shares of the financial services provider’s stock worth $793,000 after buying an additional 69 shares in the last quarter. Bigelow Investment Advisors LLC increased its holdings in JPMorgan Chase & Co. by 1.0% in the 4th quarter. Bigelow Investment Advisors LLC now owns 6,886 shares of the financial services provider’s stock valued at $1,090,000 after buying an additional 69 shares during the period. Valley Brook Capital Group Inc. raised its position in shares of JPMorgan Chase & Co. by 0.4% in the 4th quarter. Valley Brook Capital Group Inc. now owns 18,319 shares of the financial services provider’s stock valued at $2,900,000 after buying an additional 70 shares in the last quarter. Finally, Cable Hill Partners LLC raised its position in shares of JPMorgan Chase & Co. by 1.2% in the 4th quarter. Cable Hill Partners LLC now owns 6,063 shares of the financial services provider’s stock valued at $960,000 after buying an additional 70 shares in the last quarter. Institutional investors own 70.35% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.7 %

Shares of NYSE:JPM opened at $115.32 on Friday. The firm has a market cap of $338.70 billion, a P/E ratio of 9.26, a P/E/G ratio of 2.04 and a beta of 1.15. JPMorgan Chase & Co. has a 12-month low of $106.06 and a 12-month high of $172.96. The business has a fifty day simple moving average of $118.93 and a 200 day simple moving average of $133.26. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.14.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last issued its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, meeting the consensus estimate of $2.76. The company had revenue of $30.72 billion during the quarter, compared to analysts’ expectations of $31.82 billion. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.78 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 11.24 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th will be given a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.47%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 32.10%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on JPM. StockNews.com began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company reduced their target price on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Piper Sandler lowered their price target on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Evercore ISI reduced their price objective on JPMorgan Chase & Co. from $135.00 to $125.00 in a research note on Friday, July 15th. Finally, Oppenheimer decreased their target price on JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating on the stock in a research report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $145.95.

JPMorgan Chase & Co. Profile

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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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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