JPMorgan Chase & Co. $JPM Shares Purchased by InTrack Investment Management Inc

Key Points

• InTrack Investment Management Inc increased its stake in JPMorgan Chase & Co. by 15% during Q2, owning 7,608 shares now valued at approximately $2.21 million.
• JPMorgan Chase & Co. has announced a quarterly dividend increase to $1.50 per share, effective October 31st, reflecting a boost from its previous $1.40.
• According to analysts, the stock currently has a consensus rating of "Hold" with a target price of $319.40.

InTrack Investment Management Inc boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,608 shares of the financial services provider's stock after buying an additional 993 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.5% of InTrack Investment Management Inc's holdings, making the stock its 18th largest holding. InTrack Investment Management Inc's holdings in JPMorgan Chase & Co. were worth $2,206,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC boosted its stake in JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after buying an additional 3,792 shares during the last quarter. Crown Wealth Group LLC boosted its stake in JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC boosted its stake in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after buying an additional 78 shares during the last quarter. Morse Asset Management Inc boosted its stake in JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after buying an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after buying an additional 112 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred 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 owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $297.81 on Friday. The company has a market cap of $818.91 billion, a P/E ratio of 14.75, a PEG ratio of 1.81 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The business's 50-day simple moving average is $302.82 and its 200 day simple moving average is $278.54.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The business had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company's revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $4.37 EPS. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid 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 is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is 29.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JPM. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Zacks Research downgraded JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Deutsche Bank Aktiengesellschaft raised their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a report on Tuesday, September 30th. HSBC restated a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Finally, Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $319.40.

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.

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