JPMorgan Chase & Co. $JPM Shares Purchased by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC increased its stake in JPMorgan Chase & Co. by 51.9% during the second quarter, owning a total of 47,891 shares valued at approximately $13.88 million.
• JPMorgan Chase & Co. has announced an increase in its quarterly dividend to $1.50 per share, representing a 1.9% dividend yield, and will be paid on October 31st.
• The stock is currently rated with an average price target of $303.45, with 14 analysts rating it a Buy and others rating it Hold or Sell.

GC Wealth Management RIA LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 51.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 47,891 shares of the financial services provider's stock after purchasing an additional 16,365 shares during the period. JPMorgan Chase & Co. comprises about 1.1% of GC Wealth Management RIA LLC's investment portfolio, making the stock its 13th biggest holding. GC Wealth Management RIA LLC's holdings in JPMorgan Chase & Co. were worth $13,884,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC boosted its stake in JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after purchasing an additional 3,792 shares during the period. Crown Wealth Group LLC boosted its stake in JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after purchasing an additional 222 shares during the period. Mosaic Financial Group LLC boosted its stake in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after purchasing an additional 78 shares during the period. Morse Asset Management Inc boosted its stake in JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after purchasing an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated 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 owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.8%

JPMorgan Chase & Co. stock opened at $309.89 on Friday. The firm has a market cap of $852.11 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 2.03 and a beta of 1.13. 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. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The firm has a fifty day moving average price of $300.67 and a two-hundred day moving average price of $274.48.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business'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. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JPM shares. The Goldman Sachs Group set a $330.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Finally, Weiss Ratings reissued a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research note on Saturday, September 27th. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $303.45.

JPMorgan Chase & Co. 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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