Argent Capital Management LLC Purchases 6,556 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Argent Capital Management LLC increased its stake in JPMorgan Chase & Co. by 2.9% during the 2nd quarter, owning 234,323 shares valued at approximately $67.93 million.
• A quarterly dividend increase was declared by JPMorgan Chase, raising the payment from $1.40 to $1.50 per share, effective October 31st, yielding about 1.9% annually.
• JPMorgan Chase's latest earnings report showed a profit of $4.96 per share, exceeding analysts' estimates, despite a year-over-year revenue decline of 10.5%.

Argent Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 234,323 shares of the financial services provider's stock after purchasing an additional 6,556 shares during the quarter. JPMorgan Chase & Co. comprises 1.9% of Argent Capital Management LLC's holdings, making the stock its 21st biggest position. Argent Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $67,933,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC raised its position in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. GAMMA Investing LLC lifted its stake in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the period. Goldman Sachs Group Inc. lifted its stake in JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after buying an additional 548,853 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock worth $4,523,588,000 after buying an additional 890,553 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley upped their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a report on Friday, June 27th. Finally, Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $297.17.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $313.48 on Friday. The stock has a 50-day moving average price of $298.46 and a two-hundred day moving average price of $271.08. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $316.58. The stock has a market cap of $862.00 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 2.06 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

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 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $6.12 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This is an increase 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 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

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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