Ritholtz Wealth Management Buys 8,256 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Ritholtz Wealth Management increased its stake in JPMorgan Chase & Co. by 10.5%, acquiring 8,256 shares and making the total ownership approximately $25.3 million.
• JPMorgan recently reported $5.07 earnings per share for the last quarter, surpassing expectations and indicating a revenue increase of 8.8% year-over-year.
• The company has increased its quarterly dividend from $1.40 to $1.50 per share, resulting in an annualized dividend yield of 2.0%.

Ritholtz Wealth Management raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,187 shares of the financial services provider's stock after acquiring an additional 8,256 shares during the period. JPMorgan Chase & Co. comprises approximately 0.6% of Ritholtz Wealth Management's investment portfolio, making the stock its 25th largest holding. Ritholtz Wealth Management's holdings in JPMorgan Chase & Co. were worth $25,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of JPM. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $30,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $37,000. Christopher J. Hasenberg Inc raised its stake in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after purchasing an additional 106 shares during the period. Finally, Goodman Advisory Group LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $76,000. 71.55% of the stock is currently owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated 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 approximately $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 can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.9%

JPM stock opened at $300.27 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $825.66 billion, a PE ratio of 14.87, a PEG ratio of 1.81 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The stock has a 50-day simple moving average of $303.43 and a two-hundred day simple moving average of $281.56.

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 for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.37 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is presently 29.72%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on JPM. Weiss Ratings upgraded JPMorgan Chase & Co. from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Saturday. Evercore ISI lifted 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. Daiwa Capital Markets lifted their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Finally, Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $322.27.

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.

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