Strathmore Capital Advisors Inc. Acquires Shares of 2,944 JPMorgan Chase & Co. $JPM

Key Points

• Strathmore Capital Advisors Inc. has acquired 2,944 shares of JPMorgan Chase & Co., valued at approximately $834,000, expanding its position in the financial services sector.
• Multiple institutional investors, including Brighton Jones LLC and Bank Pictet & Cie Europe AG, have increased their stakes in JPMorgan Chase & Co., contributing to a total of 71.55% of the stock now held by institutional investors.
• JPMorgan Chase & Co. has announced a quarterly dividend increase to $1.50 per share, with the ex-dividend date set for October 6th, indicating a boost from the previous $1.40 dividend.

Strathmore Capital Advisors Inc. bought a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 2,944 shares of the financial services provider's stock, valued at approximately $834,000.

Several other hedge funds have also added to or reduced their stakes in JPM. Brighton Jones LLC grew its position in 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 last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after purchasing an additional 1,229 shares during the period. Two Sigma Advisers LP bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $12,657,000. AAF Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 11.6% in the fourth quarter. AAF Wealth Management LLC now owns 1,105 shares of the financial services provider's stock worth $265,000 after buying an additional 115 shares during the period. Finally, Retirement Planning Group LLC raised its holdings in JPMorgan Chase & Co. by 5.0% during the 4th quarter. Retirement Planning Group LLC now owns 7,188 shares of the financial services provider's stock valued at $1,723,000 after buying an additional 344 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Up 1.0%

Shares of JPM stock traded up $3.26 during mid-day trading on Tuesday, reaching $315.70. 1,555,589 shares of the company's stock traded hands, compared to its average volume of 9,619,887. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $316.31. The company has a market cap of $868.09 billion, a P/E ratio of 16.20, a P/E/G ratio of 2.09 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company's 50-day moving average price is $296.91 and its 200-day moving average price is $269.93.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly 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. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the business earned $6.12 EPS. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JPM shares. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. 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 report on Wednesday, July 16th. Finally, Bank of America lifted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus target price of $292.78.

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.