Torch Wealth Management LLC Has $2.85 Million Position in JPMorgan Chase & Co. (JPM)

Torch Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,374 shares of the financial services provider’s stock after acquiring an additional 451 shares during the quarter. JPMorgan Chase & Co. accounts for 1.8% of Torch Wealth Management LLC’s portfolio, making the stock its 13th largest position. Torch Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Gravity Wealth Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $150,000. Stelac Advisory Services LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $162,000. Private Ocean LLC increased its position in shares of JPMorgan Chase & Co. by 94.7% during the 1st quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 824 shares during the period. Avenir Corp acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $201,000. Finally, Reilly Herbert Faulkner III acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $202,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.

Several equities analysts have recently issued reports on JPM shares. Royal Bank of Canada reiterated a “buy” rating and set a $120.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $110.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, July 16th. Vining Sparks reissued a “buy” rating and set a $125.00 price objective on shares of JPMorgan Chase & Co. in a research note on Friday, October 12th. Goldman Sachs Group set a $130.00 price objective on JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research note on Friday, October 12th. Finally, Bank of America raised their price objective on JPMorgan Chase & Co. from $126.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $123.44.

JPM opened at $107.91 on Friday. The firm has a market cap of $370.96 billion, a PE ratio of 15.71, a P/E/G ratio of 1.75 and a beta of 1.17. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 1.01. JPMorgan Chase & Co. has a fifty-two week low of $95.95 and a fifty-two week high of $119.33.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.10. The business had revenue of $27.26 billion during the quarter, compared to analysts’ expectations of $27.20 billion. JPMorgan Chase & Co. had a return on equity of 13.90% and a net margin of 23.39%. During the same quarter last year, the firm posted $1.76 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 9.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, October 5th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Thursday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 46.58%.

In other news, CEO Gordon Smith sold 30,725 shares of the firm’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $114.01, for a total value of $3,502,957.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mellody L. Hobson bought 1,150 shares of the firm’s stock in a transaction dated Friday, October 19th. The stock was acquired at an average cost of $108.94 per share, with a total value of $125,281.00. Following the transaction, the director now owns 2,632 shares of the company’s stock, valued at $286,730.08. The disclosure for this purchase can be found here. Company insiders own 0.73% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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