BIP Wealth LLC Grows Holdings in JPMorgan Chase & Co. $JPM

BIP Wealth LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,315 shares of the financial services provider’s stock after purchasing an additional 655 shares during the quarter. BIP Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $1,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new stake in JPMorgan Chase & Co. in the second quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $37,000. Finally, Christopher J. Hasenberg Inc lifted its stake in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 106 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $309.36 on Wednesday. The company’s 50 day moving average is $305.42 and its 200-day moving average is $285.96. 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. The firm has a market cap of $850.66 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. 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 analyst estimates of $44.42 billion. During the same quarter in the previous year, the firm posted $4.37 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side 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 announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were issued 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 of this dividend was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

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 shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on JPM shares. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Citigroup upped their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Loop Capital set a $310.00 price objective on JPMorgan Chase & Co. in a research note on Thursday, October 23rd. UBS Group upped their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.38.

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.