Sutton Place Investors LLC Acquires 514 Shares of JPMorgan Chase & Co. $JPM

Sutton Place Investors LLC raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,064 shares of the financial services provider’s stock after acquiring an additional 514 shares during the period. JPMorgan Chase & Co. makes up approximately 1.2% of Sutton Place Investors LLC’s holdings, making the stock its 21st biggest holding. Sutton Place Investors LLC’s holdings in JPMorgan Chase & Co. were worth $2,048,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. LCM Capital Management Inc grew its position in JPMorgan Chase & Co. by 0.9% during the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock valued at $1,115,000 after buying an additional 36 shares during the period. jvl associates llc boosted its position in JPMorgan Chase & Co. by 1.7% during the second quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. boosted its position in JPMorgan Chase & Co. by 0.4% during the second quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock worth $2,441,000 after acquiring an additional 37 shares during the last quarter. Western Financial Corp CA boosted its position in JPMorgan Chase & Co. by 1.5% during the second quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after acquiring an additional 38 shares during the last quarter. Finally, First Command Advisory Services Inc. raised its stake in JPMorgan Chase & Co. by 0.4% during the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock worth $2,283,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $301.12 on Friday. 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 50-day simple moving average of $301.61 and a 200-day simple moving average of $276.78. 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 $828.00 billion, a PE ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period last year, the firm posted $6.12 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is 30.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Phillip Securities cut shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Finally, Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Fourteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $313.89.

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.