Park Place Capital Corp Acquires 2,053 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Park Place Capital Corp increased its holdings in JPMorgan Chase & Co. by 13.8%, now owning 16,981 shares valued at approximately $4.93 million.
• Director Linda Bammann sold 9,500 shares of JPMorgan, reducing her ownership by 10.36% to 82,207 shares worth about $24.49 million.
• JPMorgan Chase recently increased its quarterly dividend to $1.50 per share, reflecting a 1.9% yield, up from the previous $1.40 per share.

Park Place Capital Corp lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 13.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,981 shares of the financial services provider's stock after acquiring an additional 2,053 shares during the quarter. JPMorgan Chase & Co. makes up 1.1% of Park Place Capital Corp's portfolio, making the stock its 19th biggest position. Park Place Capital Corp's holdings in JPMorgan Chase & Co. were worth $4,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Kingstone Capital Partners Texas LLC raised its holdings in shares of 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 valued at $21,133,630,000 after acquiring an additional 72,885,260 shares in the last quarter. Nuveen LLC bought a new position in JPMorgan Chase & Co. in the first quarter worth $3,972,807,000. National Bank of Canada FI raised its holdings in JPMorgan Chase & Co. by 44.4% in 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 in the last quarter. Strs Ohio bought a new position in JPMorgan Chase & Co. in the first quarter worth $279,389,000. Finally, Alecta Tjanstepension Omsesidigt bought a new position in JPMorgan Chase & Co. in the first quarter worth $278,493,000. Institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

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 directly 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 filing with the SEC, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.8%

NYSE JPM opened at $309.89 on Monday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The stock has a market cap of $852.11 billion, a P/E ratio of 15.90, a P/E/G ratio of 2.04 and a beta of 1.13. The stock's fifty day moving average price is $300.67 and its 200-day moving average price is $274.97. 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. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the firm posted $6.12 earnings per share. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend 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 of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research reports. Citigroup increased their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, Evercore ISI increased their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. Fifteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $307.70.

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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