Uptick Partners LLC Raises Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Uptick Partners LLC increased its stake in JPMorgan Chase & Co. by 60.9% in the second quarter, acquiring a total of 7,022 shares valued at approximately $2.04 million.
• JPMorgan Chase & Co. reported earnings of $5.07 per share for the last quarter, exceeding estimates, alongside an annual revenue growth of 8.8%.
• The company declared a quarterly dividend increase from $1.40 to $1.50 per share, reflecting a 2.0% yield based on the annual payout.

Uptick Partners LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 60.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,022 shares of the financial services provider's stock after buying an additional 2,658 shares during the period. Uptick Partners LLC's holdings in JPMorgan Chase & Co. were worth $2,036,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. in the first quarter worth about $30,000. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the second quarter worth about $37,000. Christopher J. Hasenberg Inc lifted its stake in JPMorgan Chase & Co. by 212.0% in the second 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 last quarter. Finally, Goodman Advisory Group LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth about $76,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.9%

Shares of NYSE JPM opened at $300.27 on Friday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The stock has a market cap of $825.66 billion, a PE ratio of 14.87, a P/E/G ratio of 1.81 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average of $303.43 and a 200 day moving average of $281.56.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. This is a positive change 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 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is currently 29.72%.

Analyst Upgrades and Downgrades

JPM has been the subject of several research analyst reports. Daiwa Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Finally, DZ Bank reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.27.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on 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 transaction, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.