Elefante Mark B Buys Shares of 797 JPMorgan Chase & Co. $JPM

Elefante Mark B bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 797 shares of the financial services provider’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC grew its stake in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock valued at $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Crown Wealth Group LLC boosted its holdings in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 222 shares in the last quarter. Mosaic Financial Group LLC boosted its holdings in JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after acquiring an additional 78 shares in the last quarter. Morse Asset Management Inc boosted its holdings in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 420 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

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

Analysts Set New Price Targets

JPM has been the subject of several recent analyst reports. KGI Securities raised their price target on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Bank of America raised their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. The Goldman Sachs Group reissued a “buy” rating and issued a $366.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Finally, Wolfe Research raised their price target on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $322.27.

JPMorgan Chase & Co. Trading Up 0.1%

JPMorgan Chase & Co. stock opened at $294.37 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a market capitalization of $809.44 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.77 and a beta of 1.13. The stock has a 50-day moving average price of $303.23 and a 200 day moving average price of $280.54.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted $4.37 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. 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. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

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.