REAP Financial Group LLC Buys 866 Shares of JPMorgan Chase & Co. $JPM

Key Points

• REAP Financial Group LLC increased its stake in JPMorgan Chase & Co. by 94.1% in the second quarter, acquiring an additional 866 shares, bringing its total holdings to 1,786 shares worth $518,000.
• JPMorgan Chase & Co. recently declared a quarterly dividend of $1.50 per share, an increase from the previous dividend of $1.40, effective October 31st, representing an annualized yield of 2.0%.
• The company's stock price target has been raised by analysts, with UBS Group and TD Cowen setting new targets of $350.00 and $370.00, respectively, reinforcing a strong outlook for the bank.

REAP Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 94.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,786 shares of the financial services provider's stock after acquiring an additional 866 shares during the quarter. REAP Financial Group LLC's holdings in JPMorgan Chase & Co. were worth $518,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Brighton Jones LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after acquiring an additional 4,841 shares during the period. GAMMA Investing LLC lifted its holdings in shares of JPMorgan Chase & Co. by 5.8% during the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider's stock valued at $23,556,000 after acquiring an additional 5,296 shares during the period. Ironwood Wealth Management LLC. raised its holdings in shares of JPMorgan Chase & Co. by 0.7% in the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider's stock valued at $3,778,000 after buying an additional 107 shares during the last quarter. Acorns Advisers LLC raised its holdings in shares of JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock valued at $379,000 after buying an additional 100 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of JPMorgan Chase & Co. by 12.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,778,395 shares of the financial services provider's stock valued at $436,241,000 after buying an additional 192,068 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. DZ Bank reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday. UBS Group lifted their price target on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. Evercore ISI lifted their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. TD Cowen lifted their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Finally, Citigroup lifted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $319.40.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $305.94 on Thursday. The stock has a 50-day moving average of $302.40 and a 200-day moving average of $277.80. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The stock has a market cap of $841.24 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business had revenue of $46.43 billion during the quarter, compared to analysts' expectations of $44.42 billion. During the same period in the prior year, the business earned $4.37 EPS. JPMorgan Chase & Co.'s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, October 6th. 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%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company'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 transaction of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by company insiders.

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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