Beacon Investment Advisory Services Inc. Has $74 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Beacon Investment Advisory Services Inc. has reduced its stake in JPMorgan Chase & Co. by 3.2%, now holding approximately $74 million worth of shares, making it the 4th largest position in their portfolio.
• Institutional investors own 71.55% of JPMorgan Chase & Co., with significant movements including Kingstone Capital Partners increasing their holdings by 609,867.5% in the last quarter.
• The company recently announced a dividend increase from $1.40 to $1.50 per share, equating to an annualized dividend yield of 1.9%, set to be paid on October 31st.

Beacon Investment Advisory Services Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 255,237 shares of the financial services provider's stock after selling 8,375 shares during the period. JPMorgan Chase & Co. comprises approximately 3.3% of Beacon Investment Advisory Services Inc.'s portfolio, making the stock its 4th biggest position. Beacon Investment Advisory Services Inc.'s holdings in JPMorgan Chase & Co. were worth $73,996,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC increased its holdings in JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after purchasing an additional 72,885,260 shares in the last quarter. Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $3,972,807,000. National Bank of Canada FI boosted its stake in shares of JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after buying an additional 1,388,992 shares during the last quarter. Strs Ohio purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $279,389,000. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $278,493,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.9%

NYSE:JPM opened at $316.12 on Friday. The company has a market cap of $869.25 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.08 and a beta of 1.13. The stock's fifty day moving average price is $298.96 and its two-hundred day moving average price is $271.99. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $317.81. 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 posted its earnings results 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 firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.12 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, October 6th. 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, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director 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 SEC, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research analyst reports. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Truist Financial boosted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a "hold" rating in a research note on Tuesday, September 23rd. Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Bank of America upped their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $297.17.

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.

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