JPMorgan Chase & Co. $JPM Shares Acquired by Meitav Investment House Ltd.

Key Points

• Meitav Investment House Ltd. increased its stake in JPMorgan Chase & Co. by 18.6%, owning 49,674 shares valued at approximately $14 million after acquiring 7,794 shares in the second quarter.
• JPMorgan reported a quarterly earnings per share of $5.07, exceeding analyst expectations of $4.83, and its revenue rose by 8.8% year-over-year to $46.43 billion.
• The company announced a quarterly dividend increase to $1.50 per share, up from $1.40, with a payout ratio of 30.79% and a dividend yield of 2.0%.

Meitav Investment House Ltd. lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 18.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,674 shares of the financial services provider's stock after acquiring an additional 7,794 shares during the quarter. Meitav Investment House Ltd.'s holdings in JPMorgan Chase & Co. were worth $14,371,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Ryan Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $37,000. Christopher J. Hasenberg Inc lifted its stake in JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $76,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.9%

JPMorgan Chase & Co. stock opened at $302.11 on Wednesday. The firm has a market cap of $830.72 billion, a PE ratio of 15.50, a P/E/G ratio of 1.99 and a beta of 1.13. 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 firm's 50 day moving average price is $302.11 and its two-hundred day moving average price is $277.61. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. The firm had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.37 EPS. 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. Shareholders of record on Monday, October 6th will be given 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 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 30.79%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent research reports. HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Royal Bank Of Canada restated a "buy" rating and set a $343.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday. Finally, Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Fifteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Hold" and an average price target of $318.70.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate 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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