JPMorgan Chase & Co. $JPM Stake Increased by Meyer Handelman Co.

Meyer Handelman Co. increased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 301,059 shares of the financial services provider's stock after acquiring an additional 1,515 shares during the period. JPMorgan Chase & Co. comprises approximately 2.9% of Meyer Handelman Co.'s portfolio, making the stock its 7th largest position. Meyer Handelman Co.'s holdings in JPMorgan Chase & Co. were worth $87,280,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Florida Financial Advisors LLC lifted its position 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 lifted its holdings in shares of 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 acquiring an additional 222 shares during the last quarter. Mosaic Financial Group LLC boosted its stake in shares of 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 valued at $2,280,000 after purchasing an additional 78 shares in the last quarter. Morse Asset Management Inc grew its holdings in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC raised its position 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 purchasing an additional 112 shares during the period. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.2%

Shares of JPMorgan Chase & Co. stock opened at $315.56 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The company has a market cap of $867.71 billion, a P/E ratio of 16.19, a PEG ratio of 2.08 and a beta of 1.13. The company's fifty day simple moving average is $299.46 and its two-hundred day simple moving average is $272.90.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on JPM shares. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Bank of America boosted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and a consensus price target of $299.28.

Insider Activity

In other 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.47% of the company's stock.

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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