Charter Capital Management LLC DE Takes Position in JPMorgan Chase & Co. $JPM

Key Points

• Charter Capital Management LLC DE acquired a new stake in JPMorgan Chase & Co., purchasing 3,369 shares valued at approximately $977,000, making it the firm's 18th largest investment.
• JPMorgan Chase recently announced a quarterly dividend increase from $1.40 to $1.50 per share, representing a 1.9% yield and a $6.00 annualized dividend.
• JPMorgan Chase's latest earnings report showed earnings per share of $4.96, exceeding expectations, but revenue was down 10.5% compared to the previous year.

Charter Capital Management LLC DE bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,369 shares of the financial services provider's stock, valued at approximately $977,000. JPMorgan Chase & Co. accounts for about 0.6% of Charter Capital Management LLC DE's investment portfolio, making the stock its 18th biggest position.

A number of other large investors have also recently made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the first quarter worth $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $30,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $37,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $33,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 106 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm's 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. This trade represents 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. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $316.12 on Friday. The company has a market cap of $869.25 billion, a PE ratio of 16.22, a P/E/G ratio of 2.07 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. has a 12-month low of $202.16 and a 12-month high of $317.81. The stock has a 50 day simple moving average of $298.96 and a 200-day simple moving average of $271.68.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the firm posted $6.12 earnings per share. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. 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. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Thirteen research 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 presently has an average rating of "Hold" and an average target price of $297.17.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.