Legacy Capital Group California Inc. Acquires 4,938 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Legacy Capital Group California Inc. increased its holdings in JPMorgan Chase & Co. by 49.7%, owning a total of 14,869 shares valued at approximately $4.31 million.
• Director Linda Bammann sold 9,500 shares at an average price of $297.94, marking a 10.36% decrease in her ownership.
• JPMorgan Chase & Co. recently increased its quarterly dividend from $1.40 to $1.50 per share, reflecting a 1.9% yield for shareholders.

Legacy Capital Group California Inc. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 49.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 14,869 shares of the financial services provider's stock after purchasing an additional 4,938 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.2% of Legacy Capital Group California Inc.'s holdings, making the stock its 12th largest position. Legacy Capital Group California Inc.'s holdings in JPMorgan Chase & Co. were worth $4,311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Kingstone Capital Partners Texas LLC grew its holdings in JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. GAMMA Investing LLC grew 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 worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Nuveen LLC bought a new position in JPMorgan Chase & Co. during the first quarter worth about $3,972,807,000. National Bank of Canada FI grew its holdings in JPMorgan Chase & Co. by 44.4% during the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after purchasing an additional 1,388,992 shares during the period. Finally, Strs Ohio acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $279,389,000. Institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JPM has been the subject of several research reports. Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Keefe, Bruyette & Woods raised 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. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and a consensus target price of $297.17.

JPMorgan Chase & Co. Stock Up 0.2%

NYSE JPM opened at $313.42 on Thursday. 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 1-year low of $202.16 and a 1-year high of $316.58. The company has a 50 day moving average of $297.99 and a 200-day moving average of $270.52. The company has a market cap of $861.82 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.06 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly 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 company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the business earned $6.12 earnings per share. The firm's quarterly revenue was down 10.5% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

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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