Burns J W & Co. Inc. NY Purchases 5,070 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Burns J W & Co. Inc. NY increased its stake in JPMorgan Chase & Co. by 6.8%, owning 79,318 shares valued at approximately $22.99 million, making it the fund's 8th largest holding.
• JPMorgan Chase & Co. plans to pay a quarterly dividend of $1.50 on October 31st, representing a 7.14% increase from the previous quarter's dividend.
• Brokerage ratings for JPMorgan range from "Strong Buy" to "Strong Sell," with a consensus average rating of "Moderate Buy" and a price target of $292.78.

Burns J W & Co. Inc. NY increased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,318 shares of the financial services provider's stock after buying an additional 5,070 shares during the period. JPMorgan Chase & Co. comprises about 2.8% of Burns J W & Co. Inc. NY's holdings, making the stock its 8th largest position. Burns J W & Co. Inc. NY's holdings in JPMorgan Chase & Co. were worth $22,995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $30,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $33,000. Christopher J. Hasenberg Inc lifted its stake in shares of 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 purchasing an additional 106 shares during the period. Finally, Capital A Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $64,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPM stock traded down $2.23 during mid-day trading on Monday, reaching $312.55. 7,508,137 shares of the stock traded hands, compared to its average volume of 9,666,425. The business has a 50-day moving average of $296.43 and a two-hundred day moving average of $269.43. The firm has a market capitalization of $859.42 billion, a PE ratio of 16.04, 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. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $315.80.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a $1.50 dividend. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 30.79%.

Wall Street Analyst Weigh In

JPM has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. HSBC reissued a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" 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 issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $292.78.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of the 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 sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

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.