Armstrong Fleming & Moore Inc Grows Stake in JPMorgan Chase & Co. $JPM

Key Points

• Armstrong Fleming & Moore Inc increased its stake in JPMorgan Chase & Co. by 105.5%, acquiring a total of 10,417 shares, which are now valued at approximately $3,020,000.
• JPMorgan Chase & Co. reported an earnings per share (EPS) of $5.07 for the most recent quarter, surpassing estimates, with revenues of $46.43 billion, an 8.8% increase year-over-year.
• The company announced a dividend increase to $1.50 per share, effective October 31st, representing an annualized yield of 2.0%.

Armstrong Fleming & Moore Inc lifted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 105.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,417 shares of the financial services provider's stock after buying an additional 5,348 shares during the period. JPMorgan Chase & Co. makes up about 1.6% of Armstrong Fleming & Moore Inc's investment portfolio, making the stock its 11th biggest position. Armstrong Fleming & Moore Inc's holdings in JPMorgan Chase & Co. were worth $3,020,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the 1st quarter worth $30,000. Ryan Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth $37,000. Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after purchasing an additional 106 shares during the period. Finally, Goodman Advisory Group LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter worth $76,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of JPM stock opened at $297.81 on Friday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock's 50-day moving average price is $302.82 and its 200-day moving average price is $278.54. The stock has a market capitalization of $818.91 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $46.43 billion for the quarter, compared to analysts' expectations of $44.42 billion. During the same period in the previous year, the firm posted $4.37 earnings per share. The business's revenue was up 8.8% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company 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 $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 29.72%.

Analyst Ratings Changes

JPM has been the topic of a number of recent research reports. Barclays raised their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an "overweight" rating in a report on Wednesday. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, Bank of America raised their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $319.40.

About JPMorgan Chase & Co.

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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