HB Wealth Management LLC Has $57.16 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• HB Wealth Management LLC reduced its stake in JPMorgan Chase & Co. by 10.0%, owning 197,166 shares worth approximately $57.16 million as of the latest filing.
• JPMorgan Chase & Co. recently announced a quarterly dividend increase to $1.50, up from $1.40, reflecting a positive change with a dividend yield of 1.9%.
• Analysts have set varied price targets for JPMorgan Chase & Co., with estimates ranging from $235 to $350, indicating diverse outlooks on the stock's performance.

HB Wealth Management LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,166 shares of the financial services provider's stock after selling 21,978 shares during the period. HB Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $57,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Kavar Capital Partners Group LLC raised its position in JPMorgan Chase & Co. by 2.6% during the second quarter. Kavar Capital Partners Group LLC now owns 44,254 shares of the financial services provider's stock valued at $12,830,000 after buying an additional 1,122 shares during the period. Venture Visionary Partners LLC raised its position in JPMorgan Chase & Co. by 2.9% during the second quarter. Venture Visionary Partners LLC now owns 238,863 shares of the financial services provider's stock valued at $69,249,000 after buying an additional 6,791 shares during the period. Elser Financial Planning Inc acquired a new position in JPMorgan Chase & Co. during the second quarter valued at $1,626,000. Cyr Financial Inc. increased its position in JPMorgan Chase & Co. by 32.3% in the 2nd quarter. Cyr Financial Inc. now owns 3,599 shares of the financial services provider's stock worth $1,043,000 after purchasing an additional 879 shares during the last quarter. Finally, Oakworth Capital Inc. increased its position in JPMorgan Chase & Co. by 0.8% in the 2nd quarter. Oakworth Capital Inc. now owns 200,377 shares of the financial services provider's stock worth $58,091,000 after purchasing an additional 1,550 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of 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 legal filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $309.89 on Friday. The business has a 50 day moving average price of $300.67 and a 200 day moving average price of $274.72. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The company has a market cap of $852.11 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.04 and a beta of 1.13. The company has a quick ratio of 0.88, 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 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion during 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 firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.12 EPS. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share 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 $1.50 dividend. This is a positive change 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 yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Analysts Set New Price Targets

Several research analysts have weighed in on JPM shares. Citigroup upped their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. The Goldman Sachs Group upped their target price on JPMorgan Chase & Co. from $336.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. Bank of America upped their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Fifteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $307.70.

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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