Fulton Breakefield Broenniman LLC Has $16.06 Million Stake in JPMorgan Chase & Co. $JPM

Key Points

• Fulton Breakefield Broenniman LLC increased its stake in JPMorgan Chase & Co. by 3.3% during the second quarter, now holding 55,388 shares valued at $16.06 million.
• JPMorgan Chase recently reported earnings of $5.07 per share, exceeding analysts' expectations, with revenue up 8.8% year-over-year.
• The company announced a quarterly dividend increase to $1.50 per share, marking a positive change from the previous quarterly rate and representing an annual yield of 2.0%.

Fulton Breakefield Broenniman LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 55,388 shares of the financial services provider's stock after purchasing an additional 1,752 shares during the period. JPMorgan Chase & Co. makes up approximately 1.1% of Fulton Breakefield Broenniman LLC's portfolio, making the stock its 28th biggest holding. Fulton Breakefield Broenniman LLC's holdings in JPMorgan Chase & Co. were worth $16,057,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in JPM. Brighton Jones LLC boosted its stake in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.8% in the 1st quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider's stock worth $23,556,000 after buying an additional 5,296 shares during the last quarter. Ironwood Wealth Management LLC. boosted its stake in shares of JPMorgan Chase & Co. by 0.7% in the 1st quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider's stock worth $3,778,000 after buying an additional 107 shares during the last quarter. Acorns Advisers LLC boosted its stake in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after buying an additional 100 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.4% in the 1st quarter. Robertson Stephens Wealth Management LLC now owns 41,279 shares of the financial services provider's stock worth $10,126,000 after buying an additional 2,106 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on JPM. Deutsche Bank Aktiengesellschaft boosted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a research note on Tuesday, September 30th. TD Cowen boosted their target price on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. Daiwa Capital Markets boosted their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. Finally, Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average target price of $319.40.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of JPM stock opened at $297.81 on Friday. The company's fifty day simple moving average is $302.82 and its two-hundred day simple moving average is $278.54. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock has a market capitalization of $818.91 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.81 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion for the quarter, compared to analysts' expectations of $44.42 billion. During the same quarter in the previous year, the firm posted $4.37 EPS. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share 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 issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is presently 29.72%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction 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 sale, the director 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

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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