Chicago Capital LLC Grows Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Chicago Capital LLC increased its stake in JPMorgan Chase & Co. by 142.4%, owning a total of 142,003 shares worth approximately $41.17 million after purchasing an additional 83,417 shares in the second quarter.
• JPMorgan Chase & Co. announced a new quarterly dividend of $1.50 per share, up from $1.40, translating to an annualized yield of 1.9%.
• The company's recent earnings report revealed a profit of $4.96 per share, exceeding estimates and showing a revenue of $44.91 billion, although this represents a 10.5% decline from the previous year.

Chicago Capital LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 142.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,003 shares of the financial services provider's stock after purchasing an additional 83,417 shares during the quarter. Chicago Capital LLC's holdings in JPMorgan Chase & Co. were worth $41,168,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $37,000. Christopher J. Hasenberg Inc boosted its position 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 valued at $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $76,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.8%

Shares of JPM opened at $309.89 on Monday. 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 business has a fifty day moving average of $300.67 and a 200 day moving average of $274.97. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a market cap of $852.11 billion, a PE ratio of 15.90, a P/E/G ratio of 2.04 and a beta of 1.13.

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 business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the firm posted $6.12 earnings per share. The business's revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts expect 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 paid a $1.50 dividend. The ex-dividend date 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 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on 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 owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Zacks Research downgraded JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. TD Cowen increased their target price on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a research report on Friday. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a research report on Friday, June 27th. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Fifteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $307.70.

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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