Strategic Planning Group LLC Increases Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Strategic Planning Group LLC increased its holdings in JPMorgan Chase & Co. by 4.7% during the second quarter, now owning 30,998 shares valued at approximately $8.99 million.
• JPMorgan Chase & Co. recently announced a quarterly dividend increase to $1.50 per share, reflecting a 1.9% dividend yield for investors of record as of October 6th.
• The company reported $4.96 EPS for the most recent quarter, exceeding estimates, but its revenue of $44.91 billion was down 10.5% year-over-year.

Strategic Planning Group LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,998 shares of the financial services provider's stock after buying an additional 1,400 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.5% of Strategic Planning Group LLC's holdings, making the stock its 19th largest position. Strategic Planning Group LLC's holdings in JPMorgan Chase & Co. were worth $8,987,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of JPM. Lakeshore Financial Planning Inc. increased its position in JPMorgan Chase & Co. by 0.4% during the second quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider's stock valued at $2,441,000 after acquiring an additional 37 shares during the last quarter. Masso Torrence Wealth Management Inc. grew its stake in shares of JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Masso Torrence Wealth Management Inc. now owns 9,756 shares of the financial services provider's stock valued at $2,828,000 after purchasing an additional 417 shares during the period. LCM Capital Management Inc increased its position in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider's stock valued at $1,115,000 after purchasing an additional 36 shares during the last quarter. Cobblestone Asset Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $233,000. Finally, Rooted Wealth Advisors Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 22.2% in the second quarter. Rooted Wealth Advisors Inc. now owns 2,941 shares of the financial services provider's stock worth $844,000 after buying an additional 535 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on JPM shares. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, July 7th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Finally, HSBC reaffirmed a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. One investment 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $292.78.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $312.53 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The business's 50-day simple moving average is $297.43 and its two-hundred day simple moving average is $270.22. The stock has a market cap of $859.37 billion, a PE ratio of 16.04, a P/E/G ratio of 2.07 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $316.31.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (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 the consensus estimate of $43.76 billion. During the same quarter last year, the company earned $6.12 EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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 is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on 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 sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company's stock.

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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