ZEGA Investments LLC Increases Stock Holdings in JPMorgan Chase & Co. $JPM

ZEGA Investments LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 13.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,696 shares of the financial services provider’s stock after purchasing an additional 907 shares during the quarter. ZEGA Investments LLC’s holdings in JPMorgan Chase & Co. were worth $2,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC raised its stake in shares of 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 in the last quarter. Cottonwood Capital Advisors LLC increased its holdings in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock worth $1,112,000 after purchasing an additional 35 shares during the period. Coign Capital Advisors LLC raised its position in JPMorgan Chase & Co. by 1.2% in the 2nd quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 35 shares in the last quarter. Rialto Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 3.9% in the 2nd quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider’s stock valued at $269,000 after buying an additional 35 shares during the period. Finally, LCM Capital Management Inc grew its position in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after buying an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 966 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the transaction, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value 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 trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Barclays raised their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Wolfe Research upped their price target on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Finally, 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. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $326.38.

JPMorgan Chase & Co. Trading Down 1.1%

Shares of JPMorgan Chase & Co. stock opened at $300.30 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The company has a market capitalization of $817.48 billion, a P/E ratio of 14.87, a PEG ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $322.25. The company’s fifty day moving average is $307.66 and its two-hundred day moving average is $290.41.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping 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 business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the prior year, the firm earned $4.37 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared 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. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

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.