XY Planning Network Inc. Purchases New Shares in JPMorgan Chase & Co. $JPM

XY Planning Network Inc. purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,264 shares of the financial services provider’s stock, valued at approximately $656,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Florida Financial Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock valued at $2,416,000 after acquiring an additional 3,792 shares in the last quarter. Crown Wealth Group LLC grew its stake in JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 222 shares in the last quarter. Mosaic Financial Group LLC increased its holdings in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock valued at $2,280,000 after buying an additional 78 shares during the period. Morse Asset Management Inc increased its holdings in JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $630,000 after buying an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after buying an additional 112 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on JPM shares. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Finally, HSBC reissued a “reduce” rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $303.45.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm’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 value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Down 1.0%

JPM opened at $307.65 on Friday. The company’s 50 day moving average is $300.44 and its 200-day moving average is $273.96. The company has a market cap of $845.96 billion, a P/E ratio of 15.79, a PEG ratio of 2.05 and a beta of 1.13. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $318.01. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $6.12 EPS. Equities research analysts predict 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 will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.73%.

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.