Pzena Investment Management LLC Acquires 30,083 Shares of JPMorgan Chase & Co. $JPM

Pzena Investment Management LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 342,316 shares of the financial services provider’s stock after purchasing an additional 30,083 shares during the period. Pzena Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $99,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 4,841 shares during the last quarter. GAMMA Investing LLC grew its position in JPMorgan Chase & Co. by 5.8% during the 1st quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider’s stock worth $23,556,000 after acquiring an additional 5,296 shares during the last quarter. Ironwood Wealth Management LLC. grew its position in JPMorgan Chase & Co. by 0.7% during the 1st quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock worth $3,778,000 after acquiring an additional 107 shares during the last quarter. Acorns Advisers LLC grew its position in JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 100 shares during the last quarter. Finally, Center for Financial Planning Inc. grew its position in JPMorgan Chase & Co. by 2.2% during the 1st quarter. Center for Financial Planning Inc. now owns 17,254 shares of the financial services provider’s stock worth $4,233,000 after acquiring an additional 379 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.1%

Shares of NYSE:JPM opened at $294.37 on Friday. The company has a market capitalization of $809.44 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 1.77 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. The business’s 50-day moving average is $303.23 and its 200-day moving average is $280.54. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. The company had revenue of $46.43 billion for 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 firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.37 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company 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 dividend of $1.50 per share. This is an increase 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 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on JPM shares. Bank of America boosted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Citigroup lifted their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Daiwa Capital Markets lifted their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. TD Cowen lifted their target price on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, UBS Group lifted their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $322.27.

JPMorgan Chase & Co. 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.