Sunpointe LLC Buys 5,427 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Sunpointe LLC increased its stake in JPMorgan Chase & Co. by 81.1% during the second quarter, acquiring an additional 5,427 shares to bring its total to 12,116 shares worth approximately $3.51 million.
• JPMorgan Chase & Co. recently reported earnings of $4.96 per share, surpassing analysts' expectations, but experienced a decline in revenue of 10.5% compared to the previous year.
• The company's quarterly dividend was raised from $1.40 to $1.50 per share, reflecting a 1.9% yield on an annualized basis, with the next pay date set for October 31st.

Sunpointe LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 81.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,116 shares of the financial services provider's stock after purchasing an additional 5,427 shares during the period. JPMorgan Chase & Co. accounts for about 1.4% of Sunpointe LLC's holdings, making the stock its 17th biggest position. Sunpointe LLC's holdings in JPMorgan Chase & Co. were worth $3,513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Christopher J. Hasenberg Inc raised its position in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $64,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm'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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on JPM shares. HSBC reaffirmed a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Bank of America increased their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $292.78.

JPMorgan Chase & Co. Price Performance

JPM stock traded up $1.02 during midday trading on Friday, reaching $314.25. 23,513,937 shares of the stock were exchanged, compared to its average volume of 7,166,939. The stock has a market capitalization of $864.11 billion, a PE ratio of 16.12, a P/E/G ratio of 2.08 and a beta of 1.13. 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. has a 52 week low of $202.16 and a 52 week high of $315.80. The company has a fifty day moving average price of $296.43 and a 200 day moving average price of $269.15.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $6.12 EPS. As a group, 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 announced 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. The ex-dividend date is Monday, October 6th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

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.