Hennessy Advisors Inc. Buys 500 Shares of JPMorgan Chase & Co. $JPM

Hennessy Advisors Inc. grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the financial services provider’s stock after acquiring an additional 500 shares during the quarter. Hennessy Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $1,739,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of JPM. Brighton Jones LLC boosted its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 4,841 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of JPMorgan Chase & Co. by 5.8% in the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider’s stock valued at $23,556,000 after buying an additional 5,296 shares in the last quarter. Foresight Capital Management Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at $435,000. Donaldson Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 0.8% during the 1st quarter. Donaldson Capital Management LLC now owns 344,604 shares of the financial services provider’s stock valued at $84,531,000 after purchasing an additional 2,580 shares during the last quarter. Finally, Focus Financial Network Inc. lifted its holdings in JPMorgan Chase & Co. by 0.7% during the 1st quarter. Focus Financial Network Inc. now owns 34,971 shares of the financial services provider’s stock valued at $8,578,000 after purchasing an additional 234 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on JPM shares. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. TD Cowen raised their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Evercore ISI raised their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Finally, Morgan Stanley raised their price target on JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $313.89.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $301.12 on Friday. The stock’s 50 day moving average is $301.61 and its 200 day moving average is $276.60. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $828.00 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.97 and a beta of 1.13. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $6.12 earnings per share. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is presently 30.79%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 completion of the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.