Ballentine Partners LLC Has $28.03 Million Stake in JPMorgan Chase & Co. $JPM

Key Points

• Ballentine Partners LLC increased its stake in JPMorgan Chase & Co. by 4.6% during the 2nd quarter, bringing its total holdings to approximately $28.03 million, which represents about 0.4% of its portfolio.
• JPMorgan Chase recently announced a quarterly dividend of $1.50, up from its previous $1.40, indicating a commitment to returning value to shareholders.
• While analysts remain split on the stock, with a consensus rating of "Hold," upgrades from firms highlight an anticipated average target price of around $297.17.

Ballentine Partners LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,671 shares of the financial services provider's stock after acquiring an additional 4,210 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.4% of Ballentine Partners LLC's portfolio, making the stock its 29th largest position. Ballentine Partners LLC's holdings in JPMorgan Chase & Co. were worth $28,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Florida Financial Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after buying an additional 3,792 shares during the last quarter. Crown Wealth Group LLC increased its position in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after buying an additional 222 shares during the period. Mosaic Financial Group LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% during the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after buying an additional 78 shares during the period. Morse Asset Management Inc increased its position in shares of JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JPM. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. 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. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $297.17.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the 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 transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.9%

Shares of NYSE:JPM opened at $316.12 on Friday. The business has a 50-day moving average price of $298.96 and a 200-day moving average price of $271.68. 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 stock has a market cap of $869.25 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.07 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $317.81.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $6.12 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

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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