Brooktree Capital Management Purchases New Shares in JPMorgan Chase & Co. $JPM

Brooktree Capital Management acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,000 shares of the financial services provider’s stock, valued at approximately $580,000. JPMorgan Chase & Co. makes up approximately 0.4% of Brooktree Capital Management’s investment portfolio, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in JPM. Harbor Asset Planning Inc. purchased a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Ryan Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $37,000. Finally, Christopher J. Hasenberg Inc lifted its holdings 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 valued at $45,000 after purchasing an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on JPM. Daiwa Capital Markets upped their price target on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada reissued a “buy” rating and issued a $343.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. KGI Securities upped their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. 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 issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $326.38.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $303.63 on Friday. 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 firm has a market cap of $826.55 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. The business has a 50-day simple moving average of $307.51 and a two-hundred day simple moving average of $289.72. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $322.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter last year, the firm posted $4.37 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Insiders Place Their Bets

In related news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction on Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the sale, the insider owned 58,479 shares of the company’s stock, valued at $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Linda Bammann sold 9,500 shares of the company’s 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 sale, the director 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 position. The SEC filing for this sale provides additional information. 0.47% of the stock is currently owned by insiders.

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.