JPMorgan Chase & Co. $JPM Shares Acquired by Mullooly Asset Management Inc.

Mullooly Asset Management Inc. grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,321 shares of the financial services provider’s stock after buying an additional 38 shares during the period. JPMorgan Chase & Co. accounts for 0.4% of Mullooly Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. Mullooly Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Florida Financial Advisors LLC raised its position in JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after buying an additional 3,792 shares during the last quarter. Crown Wealth Group LLC raised its position in JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC raised its position in JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after buying an additional 78 shares during the last quarter. Morse Asset Management Inc raised its position in JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after buying an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of several recent analyst reports. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. 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. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, HSBC reiterated a “reduce” rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $319.40.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The shares were 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 directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $297.81 on Friday. The company has a market cap of $818.91 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The company has a 50-day simple moving average of $302.82 and a 200-day simple moving average of $278.54.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly 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. The business had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.37 earnings per share. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

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.