Goelzer Investment Management Inc. Has $19.03 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Goelzer Investment Management Inc. increased its holdings in JPMorgan Chase & Co. by 27.1% during the second quarter, owning a total of 65,626 shares valued at approximately $19 million.
• Numerous institutional investors, including GAMMA Investing LLC and National Bank of Canada FI, have significantly adjusted their stakes in JPMorgan, contributing to a total institutional ownership of 71.55%.
• JPMorgan Chase & Co. has recently declared an increased quarterly dividend of $1.50, representing a shift from its previous dividend of $1.40, and reflects a 1.9% yield.

Goelzer Investment Management Inc. lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 27.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,626 shares of the financial services provider's stock after purchasing an additional 13,981 shares during the period. JPMorgan Chase & Co. accounts for 1.0% of Goelzer Investment Management Inc.'s portfolio, making the stock its 10th largest holding. Goelzer Investment Management Inc.'s holdings in JPMorgan Chase & Co. were worth $19,026,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. David J Yvars Group acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $223,000. Westbourne Investments Inc. increased its stake in shares of JPMorgan Chase & Co. by 29.3% during the 2nd quarter. Westbourne Investments Inc. now owns 1,235 shares of the financial services provider's stock worth $358,000 after purchasing an additional 280 shares during the last quarter. Lifelong Wealth Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $243,000. Aaron Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 7.1% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 21,619 shares of the financial services provider's stock worth $6,268,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Blodgett Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 1.2% during the 2nd quarter. Blodgett Wealth Advisors LLC now owns 11,140 shares of the financial services provider's stock worth $3,230,000 after purchasing an additional 127 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research note on Tuesday. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note 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 research note on Monday, July 7th. Finally, Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating 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 assigned a Hold rating and three have given a Sell rating to the company. Based on 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. Stock Performance

NYSE JPM traded up $1.52 during trading on Thursday, reaching $313.27. The company's stock had a trading volume of 8,037,707 shares, compared to its average volume of 7,095,614. 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 has a market capitalization of $861.41 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $313.44. The firm has a 50 day moving average price of $295.88 and a 200 day moving average price of $268.71.

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 analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.12 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared 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 boost 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 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company'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 transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company's stock.

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.