JPMorgan Chase & Co. $JPM Shares Bought by Beacon Financial Advisory LLC

Key Points

• Beacon Financial Advisory LLC increased its stake in JPMorgan Chase & Co. by 33.0% in Q2, now holding 13,147 shares valued at approximately $3.81 million, marking the stock as their 17th largest position.
• JPMorgan Chase's stock experienced a 1.4% decline, with the current trading price at $301.12, while the company reported $4.96 EPS for the last quarter, exceeding expectations.
• The firm declared a quarterly dividend of $1.50 per share, an increase from the previous dividend of $1.40, reflecting a 2.0% yield.

Beacon Financial Advisory LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 33.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,147 shares of the financial services provider's stock after acquiring an additional 3,260 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.0% of Beacon Financial Advisory LLC's holdings, making the stock its 17th biggest position. Beacon Financial Advisory LLC's holdings in JPMorgan Chase & Co. were worth $3,811,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Alta Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 0.9% in the second quarter. Alta Wealth Advisors LLC now owns 13,622 shares of the financial services provider's stock valued at $3,949,000 after acquiring an additional 120 shares during the period. Gemmer Asset Management LLC raised its stake in shares of JPMorgan Chase & Co. by 5.6% during the 2nd quarter. Gemmer Asset Management LLC now owns 4,533 shares of the financial services provider's stock worth $1,314,000 after buying an additional 241 shares during the last quarter. Simplicity Wealth LLC raised its stake in shares of JPMorgan Chase & Co. by 76.2% during the 2nd quarter. Simplicity Wealth LLC now owns 52,585 shares of the financial services provider's stock worth $15,245,000 after buying an additional 22,740 shares during the last quarter. OLD National Bancorp IN raised its stake in shares of JPMorgan Chase & Co. by 10.9% during the 2nd quarter. OLD National Bancorp IN now owns 105,023 shares of the financial services provider's stock worth $30,447,000 after buying an additional 10,336 shares during the last quarter. Finally, Olistico Wealth LLC raised its stake in shares of JPMorgan Chase & Co. by 11.1% during the 2nd quarter. Olistico Wealth LLC now owns 5,987 shares of the financial services provider's stock worth $1,736,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.4%

JPM opened at $301.12 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $828.00 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. The business has a 50-day moving average of $301.61 and a two-hundred day moving average of $276.98. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations 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 in the previous year, the business earned $6.12 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm 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 is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 30.79%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research reports. Citigroup lifted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Truist Financial lifted their price target 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. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 8th. Finally, Bank of America lifted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Fifteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $316.00.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a filing 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.

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