JPMorgan Chase & Co. $JPM Shares Purchased by Orca Investment Management LLC

Orca Investment Management LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,151 shares of the financial services provider’s stock after buying an additional 90 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.9% of Orca Investment Management LLC’s investment portfolio, making the stock its 16th largest position. Orca Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,073,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. OFI Invest Asset Management grew its position in JPMorgan Chase & Co. by 20.2% in the second quarter. OFI Invest Asset Management now owns 442,101 shares of the financial services provider’s stock worth $128,170,000 after buying an additional 74,390 shares during the last quarter. Ackerman Capital Advisors LLC grew its position in JPMorgan Chase & Co. by 2.1% in the second quarter. Ackerman Capital Advisors LLC now owns 3,377 shares of the financial services provider’s stock worth $979,000 after buying an additional 71 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC acquired a new position in JPMorgan Chase & Co. in the second quarter worth approximately $215,000. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. grew its position in JPMorgan Chase & Co. by 527.8% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 4,376 shares of the financial services provider’s stock worth $1,269,000 after buying an additional 3,679 shares during the last quarter. Finally, Means Investment CO. Inc. grew its position in JPMorgan Chase & Co. by 1.1% in the second quarter. Means Investment CO. Inc. now owns 64,023 shares of the financial services provider’s stock worth $18,561,000 after buying an additional 717 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent analyst reports. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $343.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. KGI Securities raised their price objective on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $366.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Finally, Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $322.86.

Insider Buying and Selling

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

JPMorgan Chase & Co. Stock Down 1.7%

JPM stock opened at $297.09 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The company has a fifty day simple moving average of $303.16 and a 200 day simple moving average of $279.88. The firm has a market cap of $816.92 billion, a PE ratio of 14.71, a PEG ratio of 1.83 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the previous year, the business earned $4.37 EPS. JPMorgan Chase & Co.’s quarterly 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 fiscal 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 $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is 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.