Elser Financial Planning Inc Acquires Shares of 5,689 JPMorgan Chase & Co. $JPM

Key Points

• Elser Financial Planning Inc purchased 5,689 shares of JPMorgan Chase & Co. valued at approximately $1,626,000 during the second quarter.
• Several hedge funds have significantly increased their stakes in JPMorgan Chase & Co., with Kingstone Capital Partners raising their position by an astonishing 609,867.5%.
• JPMorgan Chase & Co. has announced a quarterly dividend increase to $1.50, effective October 31st, up from the previous $1.40, representing an annual yield of 1.9%.

Elser Financial Planning Inc acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,689 shares of the financial services provider's stock, valued at approximately $1,626,000.

Several other hedge funds also recently added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC raised its position in JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Nuveen LLC purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $3,972,807,000. National Bank of Canada FI increased its position in shares of JPMorgan Chase & Co. by 44.4% during the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after acquiring an additional 1,388,992 shares during the last quarter. Strs Ohio purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $279,389,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $278,493,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director directly owned 82,207 shares in the company, 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 SEC, which is available at this hyperlink. 0.47% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on JPM shares. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Bank of America lifted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Citigroup lifted their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Fifteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $307.70.

JPMorgan Chase & Co. Stock Up 0.8%

NYSE:JPM opened at $309.89 on Friday. The firm has a market capitalization of $852.11 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 2.04 and a beta of 1.13. The stock has a 50 day moving average of $300.67 and a 200-day moving average of $274.72. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. 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. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS 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 analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $6.12 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm 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. 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. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is currently 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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