KMG Fiduciary Partners LLC Buys 2,774 Shares of JPMorgan Chase & Co. $JPM

Key Points

• KMG Fiduciary Partners LLC increased its stake in JPMorgan Chase & Co. by 2.3%, holding 121,730 shares valued at approximately $35.3 million, making it the firm's 6th largest position.
• Analyst ratings for JPMorgan Chase & Co. show a consensus rating of "Moderate Buy" with an average price target of $292.78, despite some analysts marking it as "underperform" and others maintaining a "buy" rating.
• JPMorgan Chase & Co. announced a quarterly dividend increase to $1.50 per share, reflecting a 1.9% yield, with the next payment scheduled for October 31st.

KMG Fiduciary Partners LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,730 shares of the financial services provider's stock after buying an additional 2,774 shares during the period. JPMorgan Chase & Co. accounts for 2.6% of KMG Fiduciary Partners LLC's portfolio, making the stock its 6th biggest position. KMG Fiduciary Partners LLC's holdings in JPMorgan Chase & Co. were worth $35,291,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after purchasing an additional 454,226 shares in the last quarter. GAMMA Investing LLC lifted its holdings in JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after acquiring an additional 548,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock valued at $4,523,588,000 after buying an additional 890,553 shares during the last quarter. Finally, Nuveen LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth $3,972,807,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the 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 sale, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $292.78.

JPMorgan Chase & Co. Stock Up 0.3%

JPM traded up $1.02 during trading hours on Friday, hitting $314.25. 23,513,937 shares of the company's stock were exchanged, compared to its average volume of 7,166,939. The firm has a market cap of $864.11 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $315.80. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a 50 day moving average of $296.43 and a 200 day moving average of $269.15.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared 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 1.9%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. 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.