JPMorgan Chase & Co. $JPM Shares Bought by Harrell Investment Partners LLC

Key Points

• Harrell Investment Partners LLC increased its stake in JPMorgan Chase & Co. by 3.2%, now owning 55,277 shares valued at $16.03 million, making it the firm's fifth largest position.
• JPMorgan Chase's quarterly dividend was increased from $1.40 to $1.50 per share, with a dividend yield of 1.9% and an annualized dividend of $6.00.
• Brokerages have varied opinions on JPMorgan, with Citigroup increasing its price target to $325.00 and Baird R W downgrading the stock to a "strong sell" rating.

Harrell Investment Partners LLC boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,277 shares of the financial services provider's stock after purchasing an additional 1,706 shares during the quarter. JPMorgan Chase & Co. makes up approximately 4.1% of Harrell Investment Partners LLC's holdings, making the stock its 5th largest position. Harrell Investment Partners LLC's holdings in JPMorgan Chase & Co. were worth $16,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Brighton Jones LLC boosted its position 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 period. BTC Capital Management Inc. boosted its position in JPMorgan Chase & Co. by 1.5% during the 1st quarter. BTC Capital Management Inc. now owns 74,342 shares of the financial services provider's stock valued at $18,237,000 after purchasing an additional 1,068 shares during the period. Lantz Financial LLC boosted its position in JPMorgan Chase & Co. by 1.0% during the 1st quarter. Lantz Financial LLC now owns 6,865 shares of the financial services provider's stock valued at $1,684,000 after purchasing an additional 68 shares during the period. LVM Capital Management Ltd. MI boosted its position in JPMorgan Chase & Co. by 324.0% during the 1st quarter. LVM Capital Management Ltd. MI now owns 53,353 shares of the financial services provider's stock valued at $13,087,000 after purchasing an additional 40,769 shares during the period. Finally, Beese Fulmer Investment Management Inc. boosted its position in JPMorgan Chase & Co. by 0.5% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 91,404 shares of the financial services provider's stock valued at $22,422,000 after purchasing an additional 446 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was 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 directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JPM. Citigroup boosted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a research report on Wednesday. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Bank of America increased their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Finally, Morgan Stanley increased their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $297.17.

JPMorgan Chase & Co. Trading Up 0.9%

Shares of JPMorgan Chase & Co. stock opened at $316.12 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market cap of $869.25 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The business has a fifty day simple moving average of $298.96 and a 200-day simple moving average of $271.99. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $317.81.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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 positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.