Trust Point Inc. Buys 2,432 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Trust Point Inc. increased its holdings in JPMorgan Chase & Co. by 11.1% during the second quarter, owning 24,421 shares worth approximately $7.08 million.
• Several institutional investors have also raised their stakes in JPMorgan Chase, with Burns J W & Co. Inc. increasing its stake by 6.8% and now holding shares valued at around $22.99 million.
• JPMorgan Chase recently announced an increase in its quarterly dividend to $1.50 per share, representing an annualized dividend of $6.00 and a yield of 1.9%.

Trust Point Inc. lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,421 shares of the financial services provider's stock after buying an additional 2,432 shares during the quarter. JPMorgan Chase & Co. makes up about 0.7% of Trust Point Inc.'s investment portfolio, making the stock its 22nd largest holding. Trust Point Inc.'s holdings in JPMorgan Chase & Co. were worth $7,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Burns J W & Co. Inc. NY lifted its stake in JPMorgan Chase & Co. by 6.8% in the second quarter. Burns J W & Co. Inc. NY now owns 79,318 shares of the financial services provider's stock valued at $22,995,000 after buying an additional 5,070 shares during the last quarter. Carderock Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at about $174,000. Worth Asset Management LLC raised its stake in shares of JPMorgan Chase & Co. by 4.6% during the second quarter. Worth Asset Management LLC now owns 1,783 shares of the financial services provider's stock valued at $517,000 after purchasing an additional 79 shares in the last quarter. Moody National Bank Trust Division raised its stake in shares of JPMorgan Chase & Co. by 2.3% during the second quarter. Moody National Bank Trust Division now owns 32,967 shares of the financial services provider's stock valued at $9,557,000 after purchasing an additional 750 shares in the last quarter. Finally, Security National Bank raised its stake in shares of JPMorgan Chase & Co. by 1.9% during the second quarter. Security National Bank now owns 37,485 shares of the financial services provider's stock valued at $10,867,000 after purchasing an additional 692 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JPM shares. Wells Fargo & Company lifted 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. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. 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, Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.78.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock traded up $1.02 on Friday, reaching $314.25. The company's stock had a trading volume of 23,513,937 shares, compared to its average volume of 7,917,725. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company 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 business's fifty day moving average price is $296.43 and its 200 day moving average price is $269.43. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $315.80.

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

JPMorgan Chase & Co. Increases Dividend

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

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the firm'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 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 filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by insiders.

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.