Baron Wealth Management LLC Has $1.78 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Baron Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 22.7%, acquiring an additional 1,139 shares in the second quarter, bringing its total holdings to 6,154 shares valued at approximately $1,784,000.
• JPMorgan Chase announced a quarterly dividend increase to $1.50 per share, up from $1.40, reflecting a 1.9% yield based on an annualized dividend of $6.00.
• Recent analyst ratings for JPMorgan Chase include a "buy" rating from several firms, with an average price target of $292.78 and indications of a "Moderate Buy" sentiment among analysts.

Baron Wealth Management LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 22.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,154 shares of the financial services provider's stock after buying an additional 1,139 shares during the period. JPMorgan Chase & Co. makes up approximately 0.6% of Baron Wealth Management LLC's investment portfolio, making the stock its 17th biggest position. Baron Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $1,784,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after buying an additional 454,226 shares during the period. GAMMA Investing LLC raised its position in JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Goldman Sachs Group Inc. raised its position in JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after purchasing an additional 548,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock valued at $4,523,588,000 after purchasing an additional 890,553 shares in the last quarter. Finally, Nuveen LLC acquired a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $3,972,807,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JPM. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.78.

JPMorgan Chase & Co. Trading Up 0.3%

NYSE JPM traded up $1.02 on Friday, reaching $314.25. The company had a trading volume of 23,513,937 shares, compared to its average volume of 9,678,109. The firm has a market cap of $864.11 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.07 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $315.80. The business has a 50 day moving average of $295.88 and a two-hundred day moving average of $268.71. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for 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 business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.12 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business 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 a boost 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 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 30.79%.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the 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 transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by company 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.