JPMorgan Chase & Co. $JPM Shares Bought by Financial Management Network Inc.

Key Points

• Financial Management Network Inc. increased its stake in JPMorgan Chase & Co. by 15.1%, acquiring an additional 1,145 shares, bringing their total holdings to 8,734 shares valued at approximately $2.58 million.
• The quarterly earnings report showed that JPMorgan Chase & Co. beat analyst estimates with $4.96 earnings per share on revenue of $44.91 billion, despite a 10.5% decline in revenue compared to the previous year.
• JPMorgan recently announced an increase in its quarterly dividend to $1.50 per share, up from $1.40, representing an annualized dividend of $6.00 with a yield of 1.9%.

Financial Management Network Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,734 shares of the financial services provider's stock after buying an additional 1,145 shares during the quarter. Financial Management Network Inc.'s holdings in JPMorgan Chase & Co. were worth $2,585,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Nuveen LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth $454,042,000. National Bank of Canada FI increased its stake in 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. Finally, Strs Ohio acquired a new stake in JPMorgan Chase & Co. during the first quarter worth $279,389,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research note on Friday, June 27th. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. HSBC reaffirmed a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $292.78.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business'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 transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $1.02 on Friday, hitting $314.25. The stock had a trading volume of 23,513,937 shares, compared to its average volume of 7,166,939. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $315.80. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $864.11 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.09 and a beta of 1.13. The company's 50 day moving average price is $296.43 and its 200 day moving average price is $269.27.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $6.12 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

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.