Pure Financial Advisors LLC Raises Position in JPMorgan Chase & Co. $JPM

Pure Financial Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 147.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,068 shares of the financial services provider's stock after purchasing an additional 28,662 shares during the period. Pure Financial Advisors LLC's holdings in JPMorgan Chase & Co. were worth $13,936,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Kingstone Capital Partners Texas LLC grew its stake in 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 buying an additional 72,885,260 shares in the last quarter. Bank of New York Mellon Corp grew its stake in JPMorgan Chase & Co. by 1.9% in 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 buying an additional 454,226 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in JPMorgan Chase & Co. by 2.7% in the 1st 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 buying an additional 548,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in JPMorgan Chase & Co. by 5.1% in the 1st 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 in the last quarter. Finally, Nuveen LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $3,972,807,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were 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 directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by insiders.

Analysts Set New Price Targets

JPM has been the subject of a number of research analyst reports. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Citigroup increased their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. The Goldman Sachs Group increased their price target on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. TD Cowen increased their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Finally, Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Fifteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and an average target price of $309.95.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $307.61 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The company has a market cap of $845.85 billion, a P/E ratio of 15.78, a PEG ratio of 2.03 and a beta of 1.13. The firm has a 50-day moving average of $301.10 and a 200 day moving average of $275.67. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

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 (EPS) for the quarter, topping 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 prior year, the firm earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is currently 30.79%.

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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