AE Wealth Management LLC Has $97.47 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• AE Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 4.3% in the first quarter, now holding 397,363 shares valued at approximately $97.47 million.
• Several hedge funds, including Florida Financial Advisors LLC and Crown Wealth Group LLC, significantly raised their positions in JPMorgan Chase & Co. during the same period.
• The company plans to distribute a quarterly dividend of $1.40 per share, reflecting an annual yield of 1.89% based on recent prices.

AE Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,363 shares of the financial services provider's stock after buying an additional 16,541 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of AE Wealth Management LLC's portfolio, making the stock its 20th biggest holding. AE Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $97,473,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $33,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $37,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $43,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JPM shares. Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods boosted their price target 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. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. Finally, Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Stock Down 2.4%

JPM traded down $7.03 during trading hours on Friday, hitting $289.21. 12,005,470 shares of the company's stock were exchanged, compared to its average volume of 10,131,769. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $301.29. The stock's 50-day moving average is $280.47 and its two-hundred day moving average is $261.28. The stock has a market cap of $803.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.02 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were paid a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Insider Activity

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the sale, the director owned 91,539 shares in the company, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. 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.