Kelly Financial Group LLC Buys 84 Shares of JPMorgan Chase & Co. $JPM

Kelly Financial Group LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,286 shares of the financial services provider’s stock after buying an additional 84 shares during the period. Kelly Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $373,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the first quarter valued at $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth $33,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $37,000. Finally, Christopher J. Hasenberg Inc increased its holdings in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.0%

Shares of NYSE:JPM opened at $313.48 on Friday. The stock’s 50-day simple moving average is $298.46 and its two-hundred day simple moving average is $271.08. The stock has a market capitalization 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. has a 52-week low of $202.16 and a 52-week high of $316.58. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion during 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%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.12 EPS. Analysts expect that JPMorgan Chase & Co. will post 18.1 EPS 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. Stockholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend 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 is 28.73%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on JPM shares. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a research report on Friday, June 27th. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Citigroup increased their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $297.17.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, 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 this link. 0.47% of the stock is currently owned by 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.