Fragasso Financial Advisors Inc Boosts Position in JPMorgan Chase & Co. $JPM

Key Points

• Fragasso Financial Advisors Inc increased its holdings in JPMorgan Chase & Co. by 6.8% during Q2, owning a total of 24,348 shares valued at $7.06 million.
• JPMorgan Chase announced a quarterly dividend of $1.50 per share, up from the previous $1.40, with a current yield of 1.9%.
• JPMorgan Chase's earnings per share (EPS) surpassed estimates at $4.96, with a revenue of $44.91 billion for the quarter, though down 10.5% from the previous year.

Fragasso Financial Advisors Inc grew its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,348 shares of the financial services provider's stock after purchasing an additional 1,543 shares during the quarter. JPMorgan Chase & Co. makes up about 0.5% of Fragasso Financial Advisors Inc's investment portfolio, making the stock its 25th largest holding. Fragasso Financial Advisors Inc's holdings in JPMorgan Chase & Co. were worth $7,059,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew 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 valued at $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Nuveen LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $3,972,807,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $454,042,000. National Bank of Canada FI increased its holdings in JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock valued at $1,108,415,000 after acquiring an additional 1,388,992 shares during the last quarter. Finally, Strs Ohio bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $279,389,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research note on Friday, June 27th. Finally, HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. One equities research 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $292.78.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $1.02 during midday trading on Friday, hitting $314.25. The company had a trading volume of 23,513,937 shares, compared to its average volume of 7,166,939. The stock has a market cap of $864.11 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.09 and a beta of 1.13. 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 company has a fifty day simple moving average of $296.43 and a 200 day simple moving average of $269.27. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $315.80.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the firm posted $6.12 EPS. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. 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 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is presently 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.