Occidental Asset Management LLC Acquires 1,212 Shares of JPMorgan Chase & Co. $JPM

Occidental Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,445 shares of the financial services provider’s stock after buying an additional 1,212 shares during the period. JPMorgan Chase & Co. comprises about 1.1% of Occidental Asset Management LLC’s holdings, making the stock its 19th biggest position. Occidental Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,957,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $37,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $33,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in shares of 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 acquiring an additional 106 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.0%

Shares of NYSE JPM opened at $313.48 on Friday. The firm’s fifty day moving average is $298.46 and its 200 day moving average is $271.08. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $316.58. 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 company has a market cap of $862.00 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.06 and a beta of 1.13.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared 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 is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JPM has been the subject of several recent research reports. HSBC reiterated a “reduce” rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, September 11th. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Hsbc Global Res lowered JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $297.17.

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.