OFI Invest Asset Management Grows Position in JPMorgan Chase & Co. $JPM

OFI Invest Asset Management increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 20.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 442,101 shares of the financial services provider’s stock after acquiring an additional 74,390 shares during the quarter. OFI Invest Asset Management’s holdings in JPMorgan Chase & Co. were worth $128,170,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $30,000. Ryan Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at about $37,000. Christopher J. Hasenberg Inc lifted its position 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 buying an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $76,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 1.7%

Shares of NYSE:JPM opened at $297.09 on Wednesday. The business’s 50 day moving average price is $303.16 and its 200-day moving average price is $279.88. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The firm has a market capitalization of $816.92 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter last year, the company earned $4.37 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a 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 29.72%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and set a $366.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Finally, Phillip Securities cut shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Fifteen equities 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 MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $322.86.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’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 transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

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.