Accurate Wealth Management LLC Purchases 2,135 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Accurate Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 6.6% during the 2nd quarter, owning a total of 34,668 shares valued at approximately $9,987,000.
• JPMorgan Chase plans to pay a quarterly dividend of $1.50 per share, rising from the previous $1.40, with an annualized yield of 1.9%.
• The company's earnings per share for the last quarter stood at $4.96, exceeding expectations, despite a 10.5% year-over-year revenue decline.

Accurate Wealth Management LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,668 shares of the financial services provider's stock after acquiring an additional 2,135 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.5% of Accurate Wealth Management LLC's investment portfolio, making the stock its 9th biggest holding. Accurate Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $9,987,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake 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. during the 1st quarter valued at about $30,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $33,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $37,000. Finally, Christopher J. Hasenberg Inc grew its position in shares of JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 106 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the business'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 completion of the sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Up 0.9%

JPMorgan Chase & Co. stock opened at $316.12 on Friday. The firm has a 50 day moving average price of $298.96 and a 200 day moving average price of $271.68. The company has a market capitalization of $869.25 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $317.81.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. HSBC reaffirmed a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus price target of $297.17.

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.

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