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Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $19.83 Million Stake in JPMorgan Chase & Co. $JPM

JPMorgan Chase & Co. logo with Finance background

Key Points

  • Empirical Financial Services LLC increased its stake in JPMorgan Chase & Co. by 11.2%, owning 68,405 shares valued at approximately $19.83 million at the end of the latest reporting period.
  • Analysts have mixed ratings on JPM, with 14 recommending a Buy, 8 a Hold, and 3 a Sell, while the average target price is set at $313.89.
  • JPMorgan Chase & Co. announced a dividend increase from $1.40 to $1.50 per share, reflecting an annual payout of $6.00 and a yield of 2.0%.
  • Five stocks to consider instead of JPMorgan Chase & Co..

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 11.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,405 shares of the financial services provider's stock after purchasing an additional 6,876 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in JPMorgan Chase & Co. were worth $19,831,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. acquired 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. during the first quarter worth $30,000. Ryan Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the second quarter worth $37,000. Christopher J. Hasenberg Inc raised its stake in JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after acquiring an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $76,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Citigroup increased their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft raised their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a report on Tuesday, September 30th. Finally, Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $313.89.

View Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. Trading Up 0.4%

NYSE JPM opened at $305.35 on Friday. The firm has a market cap of $839.64 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The stock's 50-day moving average is $301.37 and its 200-day moving average is $276.26. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for 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%.JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $6.12 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. 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 dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is 30.79%.

Insider Activity 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 transaction of $2,830,430.00. Following the sale, the director owned 82,207 shares of the company's stock, 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 through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

(Free Report)

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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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).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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.

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