Independence Financial Advisors LLC Purchases New Shares in JPMorgan Chase & Co. $JPM

Independence Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 756 shares of the financial services provider’s stock, valued at approximately $219,000.

Other hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its position in shares of JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares in the last quarter. Nuveen LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $3,972,807,000. Montrusco Bolton Investments Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at $485,802,000. International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $458,104,000. Finally, National Bank of Canada FI grew its holdings in shares of JPMorgan Chase & Co. by 44.4% during the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after buying an additional 1,388,992 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. UBS Group increased their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Morgan Stanley raised their price target 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, October 15th. Loop Capital set a $310.00 price objective on shares of JPMorgan Chase & Co. in a research note on Thursday, October 23rd. Finally, Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Fifteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $326.38.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was 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 directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction on Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of JPM stock opened at $297.82 on Monday. The firm’s 50-day simple moving average is $307.43 and its 200-day simple moving average is $291.79. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The firm has a market cap of $810.74 billion, a P/E ratio of 14.75, a PEG ratio of 1.84 and a beta of 1.14.

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 firm had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period in the previous year, the firm earned $4.37 earnings per share. JPMorgan Chase & Co.’s revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 annualized dividend and a dividend 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 is presently 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.