Sovran Advisors LLC Boosts Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Sovran Advisors LLC increased its stake in JPMorgan Chase & Co. by 14.4% during the second quarter, acquiring an additional 946 shares to reach a total of 7,525 shares valued at approximately $2.13 million.
• Multiple hedge funds, including Bank of New York Mellon and GAMMA Investing, significantly boosted their stakes in JPMorgan Chase, indicating strong institutional interest in the company.
• JPMorgan Chase recently announced a quarterly dividend increase from $1.40 to $1.50 per share, with a planned payout date of October 31st, reflecting a promising annualized yield of 1.9%.

Sovran Advisors LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 14.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,525 shares of the financial services provider's stock after purchasing an additional 946 shares during the period. Sovran Advisors LLC's holdings in JPMorgan Chase & Co. were worth $2,128,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake 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 acquiring an additional 23,465,278 shares in the last quarter. Nuveen LLC bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $3,972,807,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $454,042,000. 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 buying an additional 1,388,992 shares during the last quarter. Finally, Strs Ohio purchased a new position in JPMorgan Chase & Co. in the first quarter worth about $279,389,000. Institutional investors own 71.55% of the company's stock.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. HSBC restated a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Wells Fargo & Company increased their price objective 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. Finally, TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $292.78.

JPMorgan Chase & Co. Price Performance

JPM stock traded up $1.02 during trading on Friday, hitting $314.25. 23,513,937 shares of the company's stock traded hands, compared to its average volume of 7,166,939. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $315.80. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The business has a fifty day simple moving average of $296.43 and a 200 day simple moving average of $269.15. The stock has a market capitalization of $864.11 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.08 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $6.12 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 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.