Apollon Wealth Management LLC Has $52.98 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Apollon Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 4.4% during Q2, holding 182,740 shares valued at approximately $52.98 million.
• JPMorgan Chase & Co. reported Q3 earnings of $5.07 per share, exceeding expectations and reflecting an 8.8% increase in revenue year-over-year.
• The company declared a quarterly dividend of $1.50 per share, marking a positive change from the previous $1.40, with a yield of 2.0%.

Apollon Wealth Management LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 182,740 shares of the financial services provider's stock after purchasing an additional 7,664 shares during the quarter. JPMorgan Chase & Co. accounts for 1.0% of Apollon Wealth Management LLC's investment portfolio, making the stock its 13th biggest holding. Apollon Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $52,978,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in JPM. JFS Wealth Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider's stock valued at $2,290,000 after acquiring an additional 35 shares in the last quarter. LCM Capital Management Inc grew its holdings in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider's stock valued at $1,115,000 after acquiring an additional 36 shares in the last quarter. jvl associates llc grew its holdings in shares of JPMorgan Chase & Co. by 1.7% during the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider's stock valued at $607,000 after acquiring an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider's stock valued at $2,441,000 after acquiring an additional 37 shares in the last quarter. Finally, Western Financial Corp CA grew its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider's stock valued at $766,000 after acquiring an additional 38 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an "equal weight" rating in a report on Wednesday, October 15th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. The Goldman Sachs Group reiterated a "buy" rating and issued a $366.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Finally, DZ Bank reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $322.86.

JPMorgan Chase & Co. Stock Up 1.6%

JPM stock opened at $302.33 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a 50-day moving average of $303.07 and a two-hundred day moving average of $279.76. The stock has a market capitalization of $831.32 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released 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 company had revenue of $46.43 billion during the quarter, compared to analysts' expectations of $44.42 billion. During the same period in the prior year, the company earned $4.37 earnings per share. The business's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is currently 29.72%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

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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