Legacy Financial Strategies LLC Grows Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Legacy Financial Strategies LLC increased its holdings in JPMorgan Chase & Co. by 56.6%, now owning 5,416 shares valued at approximately $1.57 million.
• JPMorgan Chase & Co. recently announced an increase in its quarterly dividend from $1.40 to $1.50, reflecting a positive change in its annualized dividend yield to 1.9%.
• Shares of JPMorgan Chase & Co. opened at $314.25 with a market cap of $864.11 billion, while the stock’s P/E ratio stands at 16.12.

Legacy Financial Strategies LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 56.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,416 shares of the financial services provider's stock after purchasing an additional 1,957 shares during the quarter. Legacy Financial Strategies LLC's holdings in JPMorgan Chase & Co. were worth $1,570,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after acquiring an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock valued at $4,523,588,000 after purchasing an additional 890,553 shares during the period. Finally, Nuveen LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $3,972,807,000. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. HSBC reissued a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus price target of $292.78.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were 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 of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of NYSE:JPM traded down $2.23 during trading on Monday, reaching $312.55. The company's stock had a trading volume of 7,508,137 shares, compared to its average volume of 9,666,425. The stock has a market capitalization of $859.42 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month 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 firm's 50 day simple moving average is $296.43 and its two-hundred day simple moving average is $269.43.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the company earned $6.12 EPS. The company's revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced 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 represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is 30.79%.

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.