Pegasus Asset Management Inc. Acquires 505 Shares of JPMorgan Chase & Co. $JPM

Pegasus Asset Management Inc. lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 33,061 shares of the financial services provider’s stock after acquiring an additional 505 shares during the quarter. JPMorgan Chase & Co. accounts for about 3.3% of Pegasus Asset Management Inc.’s holdings, making the stock its 11th biggest holding. Pegasus Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $9,585,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $30,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $37,000. Christopher J. Hasenberg Inc lifted its holdings in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth $76,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred 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 represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $293.83 on Thursday. The firm’s 50 day moving average price is $303.23 and its 200-day moving average price is $279.98. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month 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 stock has a market capitalization of $807.96 billion, a PE ratio of 14.55, a price-to-earnings-growth 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 for the quarter, topping 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 firm had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the prior year, the business earned $4.37 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS 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. Stockholders of record on Monday, October 6th will be paid 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 dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Analysts Set New Price Targets

A number of brokerages have issued reports on JPM. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Monday. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Wolfe Research upped their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, KGI Securities upped their price target 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $322.86.

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.