JPMorgan Chase & Co. $JPM is Edge Wealth Management LLC's 6th Largest Position

Key Points

• Edge Wealth Management LLC reduced its stake in JPMorgan Chase & Co. by 1.6%, making the stock its 6th largest position, now comprising approximately 5.0% of its total holdings.
• JPMorgan Chase & Co. reported an EPS of $4.96 for the last quarter, exceeding estimates, but showing a 10.5% decrease in revenue year-over-year.
• The company announced an increase in its quarterly dividend from $1.40 to $1.50, with a corresponding dividend yield of 1.9%.

Edge Wealth Management LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,812 shares of the financial services provider's stock after selling 1,423 shares during the quarter. JPMorgan Chase & Co. comprises approximately 5.0% of Edge Wealth Management LLC's holdings, making the stock its 6th biggest position. Edge Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $25,759,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Abacus Wealth Partners LLC increased its stake in shares of JPMorgan Chase & Co. by 6.4% in the second quarter. Abacus Wealth Partners LLC now owns 2,990 shares of the financial services provider's stock worth $867,000 after purchasing an additional 180 shares in the last quarter. Tran Capital Management L.P. purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth $232,000. Abound Wealth Management increased its stake in JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Abound Wealth Management now owns 3,466 shares of the financial services provider's stock worth $1,005,000 after buying an additional 162 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth $45,687,000. Finally, Border to Coast Pensions Partnership Ltd increased its stake in JPMorgan Chase & Co. by 6.6% in the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 398,699 shares of the financial services provider's stock worth $115,587,000 after buying an additional 24,835 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $312.53 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $316.31. The stock has a market capitalization of $859.37 billion, a P/E ratio of 16.04, a PEG ratio of 2.07 and a beta of 1.13. The firm has a fifty day simple moving average of $297.43 and a two-hundred day simple moving average of $270.22. 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 released its quarterly 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. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates 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 was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $6.12 earnings per share. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 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 dividend payout ratio (DPR) is presently 28.73%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a report on Friday, June 27th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. HSBC reaffirmed a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Finally, Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $292.78.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on 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 transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.47% of the company's stock.

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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