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

Griffin Asset Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,796 shares of the financial services provider’s stock after buying an additional 2,683 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.3% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 4th largest position. Griffin Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $19,365,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $37,000. Christopher J. Hasenberg Inc raised its stake in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after buying an additional 106 shares during the period. Finally, Goodman Advisory Group LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $76,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 1.1%

NYSE JPM opened at $293.83 on Thursday. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The business’s fifty day simple moving average is $303.23 and its 200-day simple moving average is $279.98. The firm has a market cap of $807.96 billion, a PE ratio of 14.55, a P/E/G ratio of 1.79 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $4.37 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Analysts Set New Price Targets

JPM has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Wolfe Research raised their price objective on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $322.86.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was 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 of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

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.