Ackerman Capital Advisors LLC Buys 71 Shares of JPMorgan Chase & Co. $JPM

Ackerman Capital Advisors LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,377 shares of the financial services provider’s stock after purchasing an additional 71 shares during the period. Ackerman Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $979,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of JPM. JFS Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock valued at $2,290,000 after buying an additional 35 shares during the last quarter. LCM Capital Management Inc raised its stake in JPMorgan Chase & Co. by 0.9% during the 2nd 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 last quarter. jvl associates llc raised its stake in JPMorgan Chase & Co. by 1.7% during the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock valued at $607,000 after buying an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. raised its stake in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock valued at $2,441,000 after buying an additional 37 shares during the last quarter. Finally, Western Financial Corp CA raised its stake in JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock valued at $766,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the 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 transaction, the director owned 82,207 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JPM. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. HSBC restated a “reduce” rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Bank of America upped their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Phillip Securities lowered JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $322.86.

JPMorgan Chase & Co. Trading Down 1.7%

Shares of JPMorgan Chase & Co. stock opened at $297.09 on Wednesday. The company has a market capitalization of $816.92 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.83 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The company has a fifty day moving average of $303.16 and a 200 day moving average of $279.88. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. The company 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%. JPMorgan Chase & Co.’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.37 EPS. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. 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%. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

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.