NorthCrest Asset Manangement LLC Buys 1,173 Shares of JPMorgan Chase & Co. $JPM

Key Points

• NorthCrest Asset Management LLC increased its stake in JPMorgan Chase & Co. by 0.5%, now holding 220,076 shares valued at approximately $65 million.
• Through various hedge fund transactions, institutional investors now own 71.55% of JPMorgan Chase & Co.'s stock.
• JPMorgan has announced a quarterly dividend of $1.50, reflecting an increase from the previous $1.40, and is set to be paid on October 31.

NorthCrest Asset Manangement LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 220,076 shares of the financial services provider's stock after purchasing an additional 1,173 shares during the period. JPMorgan Chase & Co. makes up about 1.7% of NorthCrest Asset Manangement LLC's portfolio, making the stock its 6th biggest holding. NorthCrest Asset Manangement LLC's holdings in JPMorgan Chase & Co. were worth $65,142,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in JPM. Brighton Jones LLC lifted its holdings 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 worth $11,682,000 after purchasing an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in JPMorgan Chase & Co. by 0.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after acquiring an additional 1,229 shares in the last quarter. Two Sigma Advisers LP acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at $12,657,000. AAF Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 11.6% in the 4th quarter. AAF Wealth Management LLC now owns 1,105 shares of the financial services provider's stock valued at $265,000 after acquiring an additional 115 shares in the last quarter. Finally, Retirement Planning Group LLC raised its holdings in JPMorgan Chase & Co. by 5.0% in the 4th quarter. Retirement Planning Group LLC now owns 7,188 shares of the financial services provider's stock valued at $1,723,000 after acquiring an additional 344 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JPM has been the subject of several analyst reports. Bank of America lifted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average target price of $292.78.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM stock traded up $2.08 during midday trading on Tuesday, reaching $314.52. 1,728,079 shares of the stock were exchanged, compared to its average volume of 9,621,125. The stock has a market capitalization of $864.85 billion, a PE ratio of 16.16, a P/E/G ratio of 2.09 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $316.31. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a fifty day moving average price of $296.91 and a 200 day moving average price of $269.93.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for 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%.JPMorgan Chase & Co.'s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.12 EPS. As a group, analysts expect 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. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

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.