JPMorgan Chase & Co. $JPM is Lmcg Investments LLC's 4th Largest Position

Key Points

• Lmcg Investments LLC reduced its stake in JPMorgan Chase & Co. by 3.8%, making it the firm's fourth-largest position at 3.0% of its investment portfolio, valued at approximately $48.56 million.
• JPMorgan recently announced a quarterly dividend increase from $1.40 to $1.50 per share, reflecting a 2.0% dividend yield and a payout ratio of 29.72%.
• The company reported a robust Q3 earnings of $5.07 EPS, exceeding expectations by $0.24, while its revenue for the quarter was $46.43 billion, up 8.8% year-over-year.

Lmcg Investments LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 167,501 shares of the financial services provider's stock after selling 6,625 shares during the quarter. JPMorgan Chase & Co. makes up 3.0% of Lmcg Investments LLC's investment portfolio, making the stock its 4th largest position. Lmcg Investments LLC's holdings in JPMorgan Chase & Co. were worth $48,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Florida Financial Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after acquiring an additional 3,792 shares during the last quarter. Crown Wealth Group LLC boosted its position in shares of JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after acquiring an additional 222 shares during the last quarter. Mosaic Financial Group LLC boosted its position in shares of JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after acquiring an additional 78 shares during the last quarter. Morse Asset Management Inc boosted its position in shares of JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after acquiring an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after acquiring an additional 112 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business's 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 transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.2%

NYSE JPM opened at $297.81 on Monday. The company's fifty day simple moving average is $302.82 and its 200-day simple moving average is $279.12. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The stock has a market cap of $818.91 billion, a P/E ratio of 14.75, a PEG ratio of 1.80 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping 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 business had revenue of $46.43 billion for the quarter, compared to analysts' expectations of $44.42 billion. During the same period in the previous year, the company posted $4.37 earnings per share. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is presently 29.72%.

Analysts Set New Price Targets

Several research firms recently issued reports on JPM. Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an "equal weight" rating in a research 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 research report on Tuesday, July 8th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, KGI Securities lifted their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a "hold" rating in a research report on Wednesday, October 15th. Fifteen research 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's stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and an average price target of $322.86.

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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