JPMorgan Chase & Co. $JPM Shares Purchased by Sax Wealth Advisors LLC

Key Points

• Sax Wealth Advisors LLC boosted its stake in JPMorgan Chase & Co. by 7.4%, acquiring a total of 20,729 shares valued at approximately $6.01 million.
• The company reported $5.07 earnings per share for the last quarter, exceeding estimates and resulting in a year-over-year revenue increase of 8.8%.
• JPMorgan Chase & Co. plans to increase its quarterly dividend to $1.50, reflecting positive growth with an annualized yield of 2.0%.

Sax Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,729 shares of the financial services provider's stock after acquiring an additional 1,434 shares during the period. Sax Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $6,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JPM. Kingstone Capital Partners Texas LLC boosted its position in shares of JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Nuveen LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $3,972,807,000. National Bank of Canada FI boosted its position in shares of JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock valued at $1,108,415,000 after purchasing an additional 1,388,992 shares during the period. Strs Ohio acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $279,389,000. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $278,493,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.3%

Shares of JPMorgan Chase & Co. stock opened at $305.94 on Thursday. The firm has a market cap of $841.24 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 1.94 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The stock has a 50-day simple moving average of $302.40 and a 200-day simple moving average of $277.80.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 30.79%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related 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 value 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. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent analyst reports. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a research report on Friday, June 27th. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. 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 research report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $319.40.

JPMorgan Chase & Co. Company 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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