Annex Advisory Services LLC Increases Stake in JPMorgan Chase & Co. $JPM

Key Points

• Annex Advisory Services LLC increased its stake in JPMorgan Chase & Co. by 1.8% in Q2, holding a total of 53,341 shares valued at approximately $15.46 million.
• Director Linda Bammann sold 9,500 shares of JPMorgan stock, leading to a 10.36% decrease in her position, while the company has a current insider ownership of 0.47%.
• JPMorgan Chase announced a quarterly dividend increase to $1.50 per share, up from $1.40, with the next payout scheduled for October 31st.

Annex Advisory Services LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,341 shares of the financial services provider's stock after purchasing an additional 946 shares during the quarter. Annex Advisory Services LLC's holdings in JPMorgan Chase & Co. were worth $15,464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $37,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Finally, Christopher J. Hasenberg Inc raised its position in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after buying an additional 106 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction 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 transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of JPM opened at $312.55 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $315.80. 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 firm's fifty day moving average is $296.91 and its two-hundred day moving average is $269.93. The stock has a market cap of $859.42 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the previous year, the company posted $6.12 EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. Research analysts forecast 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. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Bank of America raised their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.

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