Ironwood Investment Counsel LLC Has $8.70 Million Stock Position in JPMorgan Chase & Co. $JPM

Ironwood Investment Counsel LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 11.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,993 shares of the financial services provider’s stock after buying an additional 3,105 shares during the period. JPMorgan Chase & Co. comprises 1.3% of Ironwood Investment Counsel LLC’s holdings, making the stock its 15th largest position. Ironwood Investment Counsel LLC’s holdings in JPMorgan Chase & Co. were worth $8,695,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter worth about $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc boosted its position in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after buying an additional 106 shares during the period. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $297.82 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company’s fifty day simple moving average is $307.43 and its 200 day simple moving average is $291.20. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The company has a market cap of $810.74 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $47.12 billion during the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.37 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were given a $1.50 dividend. The ex-dividend date of this dividend was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JPM. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Evercore ISI lifted their price objective 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. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Daiwa Capital Markets raised their target price on shares of 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, TD Cowen lifted their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $326.38.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider directly owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.47% of the company’s stock.

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.