JPMorgan Chase & Co. $JPM Shares Purchased by Argyle Capital Management LLC

Argyle Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 29,779 shares of the financial services provider’s stock after buying an additional 300 shares during the quarter. JPMorgan Chase & Co. makes up 3.1% of Argyle Capital Management LLC’s holdings, making the stock its 3rd largest holding. Argyle Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Coordinated Financial Services Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $723,000. Moseley Investment Management Inc. raised its stake in shares of JPMorgan Chase & Co. by 2.1% in the 2nd quarter. Moseley Investment Management Inc. now owns 19,107 shares of the financial services provider’s stock valued at $5,539,000 after buying an additional 395 shares in the last quarter. KRS Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 4.3% in the 2nd quarter. KRS Capital Management LLC now owns 7,419 shares of the financial services provider’s stock valued at $2,151,000 after buying an additional 309 shares in the last quarter. Vantage Point Financial LLC raised its stake in shares of JPMorgan Chase & Co. by 4.4% in the 2nd quarter. Vantage Point Financial LLC now owns 1,427 shares of the financial services provider’s stock valued at $414,000 after buying an additional 60 shares in the last quarter. Finally, Elite Wealth Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $224,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.2%

Shares of NYSE:JPM opened at $297.81 on Friday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The company’s 50-day moving average price is $302.82 and its two-hundred day moving average price is $278.77. 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 $818.91 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.80 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 EPS for the quarter, topping 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 firm had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the prior year, the firm earned $4.37 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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 an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated 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 $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JPM. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research note on Wednesday. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a report on Wednesday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $343.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $319.40.

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.