Woodmont Investment Counsel LLC Boosts Stake in JPMorgan Chase & Co. $JPM

Key Points

• Woodmont Investment Counsel LLC increased its stake in JPMorgan Chase & Co. by 2.9%, owning 87,098 shares valued at approximately $25.25 million as of the latest quarter.
• Several hedge funds raised their positions in JPMorgan Chase, with notable increases from Global Assets Advisory LLC (36.9%) and Kercheville Advisors LLC (342.2%).
• JPMorgan Chase & Co. announced a quarterly dividend increase to $1.50 per share, reflecting a positive change from the previous dividend of $1.40, with an annual yield of 2.0%.

Woodmont Investment Counsel LLC raised its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,098 shares of the financial services provider's stock after purchasing an additional 2,433 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.7% of Woodmont Investment Counsel LLC's holdings, making the stock its 12th biggest holding. Woodmont Investment Counsel LLC's holdings in JPMorgan Chase & Co. were worth $25,251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Assets Advisory LLC raised its position in JPMorgan Chase & Co. by 36.9% in the 2nd quarter. Global Assets Advisory LLC now owns 3,003 shares of the financial services provider's stock worth $872,000 after purchasing an additional 810 shares during the period. Three Bridge Wealth Advisors LLC raised its position in JPMorgan Chase & Co. by 46.3% in the 2nd quarter. Three Bridge Wealth Advisors LLC now owns 2,984 shares of the financial services provider's stock worth $865,000 after purchasing an additional 944 shares during the period. JSF Financial LLC raised its position in JPMorgan Chase & Co. by 10.5% in the 2nd quarter. JSF Financial LLC now owns 10,328 shares of the financial services provider's stock worth $2,994,000 after purchasing an additional 980 shares during the period. Merit Financial Group LLC raised its position in JPMorgan Chase & Co. by 36.0% in the 2nd quarter. Merit Financial Group LLC now owns 151,463 shares of the financial services provider's stock worth $43,911,000 after purchasing an additional 40,053 shares during the period. Finally, Kercheville Advisors LLC raised its position in JPMorgan Chase & Co. by 342.2% in the 2nd quarter. Kercheville Advisors LLC now owns 9,065 shares of the financial services provider's stock worth $2,628,000 after purchasing an additional 7,015 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent analyst reports. UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. The Goldman Sachs Group raised their target price on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, October 3rd. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a research report on Tuesday, September 30th. Finally, Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Fifteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Hold" and a consensus price target of $316.00.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $301.12 on Monday. The firm has a market cap of $828.00 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.94 and a beta of 1.13. The company's 50 day moving average is $301.61 and its 200 day moving average is $276.98. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $44.91 billion for 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%. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $6.12 earnings per share. On average, sell-side analysts anticipate 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. Investors 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 yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is 30.79%.

Insider Transactions at JPMorgan Chase & Co.

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

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.

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