JPMorgan Chase & Co. $JPM Shares Bought by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 20.9% in the second quarter, Holdings Channel reports. The fund owned 2,891 shares of the financial services provider’s stock after purchasing an additional 500 shares during the period. Shikiar Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in JPM. Brighton Jones LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after buying an additional 4,841 shares during the period. GAMMA Investing LLC lifted its holdings in shares of JPMorgan Chase & Co. by 5.8% in the 1st quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider’s stock valued at $23,556,000 after buying an additional 5,296 shares during the period. Ironwood Wealth Management LLC. lifted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 1st quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock valued at $3,778,000 after buying an additional 107 shares during the period. Acorns Advisers LLC lifted its holdings in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after buying an additional 100 shares during the period. Finally, Centennial Wealth Advisory LLC lifted its holdings in shares of JPMorgan Chase & Co. by 8.3% in the 1st quarter. Centennial Wealth Advisory LLC now owns 2,063 shares of the financial services provider’s stock valued at $506,000 after buying an additional 158 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $297.81 on Monday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01. The company has a market capitalization of $818.91 billion, a P/E ratio of 14.75, a PEG ratio of 1.80 and a beta of 1.13. The business has a 50 day moving average price of $302.82 and a 200 day moving average price of $279.12. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period last year, the business posted $4.37 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 8.8% on a year-over-year basis. Sell-side 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 declared 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 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 (DPR) is 29.72%.

Wall Street Analyst Weigh In

Several research firms have recently commented on JPM. Royal Bank Of Canada reissued a “buy” rating and issued a $343.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Barclays raised their price target on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company raised 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. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, HSBC reissued a “reduce” rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $322.86.

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 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 approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a 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.