Sigma Investment Counselors Inc. Acquires 2,060 Shares of JPMorgan Chase & Co. $JPM

Sigma Investment Counselors Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 52,654 shares of the financial services provider’s stock after acquiring an additional 2,060 shares during the period. Sigma Investment Counselors Inc.’s holdings in JPMorgan Chase & Co. were worth $15,265,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Wealth Management LLC raised its position in JPMorgan Chase & Co. by 499.4% in the second quarter. Pinnacle Wealth Management LLC now owns 9,765 shares of the financial services provider’s stock worth $2,831,000 after purchasing an additional 8,136 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $210,000. Financial Synergies Wealth Advisors Inc. grew its stake in shares of JPMorgan Chase & Co. by 25.2% in the 2nd quarter. Financial Synergies Wealth Advisors Inc. now owns 1,252 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 252 shares during the period. Kelman Lazarov Inc. boosted its stake in JPMorgan Chase & Co. by 16.9% in the 2nd quarter. Kelman Lazarov Inc. now owns 1,257 shares of the financial services provider’s stock valued at $364,000 after buying an additional 182 shares in the last quarter. Finally, First Bancorp Inc ME boosted its stake in JPMorgan Chase & Co. by 7.9% in the 2nd quarter. First Bancorp Inc ME now owns 5,492 shares of the financial services provider’s stock valued at $1,592,000 after buying an additional 402 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling

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

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $305.29 on Wednesday. The business’s 50-day simple moving average is $303.98 and its 200 day simple moving average is $282.92. The stock has a market cap of $839.48 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.83 and a beta of 1.13. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-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.

JPMorgan Chase & Co. (NYSE:JPM) last released its 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 company had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same period in the prior year, the company posted $4.37 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. As a group, research 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 announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. 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 a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Daiwa Capital Markets lifted their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. The Goldman Sachs Group reiterated a “buy” rating and set a $366.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $322.27.

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.