Morningstar Investment Management LLC Invests $811,000 in JPMorgan Chase & Co. $JPM

Morningstar Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 2,799 shares of the financial services provider’s stock, valued at approximately $811,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. JFS Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 0.4% in the second quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock valued at $2,290,000 after acquiring an additional 35 shares during the last quarter. LCM Capital Management Inc lifted its holdings in shares of JPMorgan Chase & Co. by 0.9% in the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after acquiring an additional 36 shares during the last quarter. jvl associates llc boosted its stake in shares of JPMorgan Chase & Co. by 1.7% in the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock valued at $2,441,000 after purchasing an additional 37 shares during the last quarter. Finally, Western Financial Corp CA increased its position in JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after purchasing an additional 38 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 1.9%

Shares of NYSE:JPM opened at $300.27 on Friday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. 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 $303.43 and its 200-day moving average is $281.11. The company has a market capitalization of $825.66 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 1.77 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results 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. The firm had revenue of $46.43 billion for the quarter, compared to analyst estimates 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 revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.37 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. 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 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on JPM shares. Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Loop Capital set a $310.00 price objective on JPMorgan Chase & Co. in a report on Thursday. Royal Bank Of Canada restated a “buy” rating and set a $343.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Daiwa Capital Markets increased their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Finally, Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $322.27.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction 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 represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.

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.