JPMorgan Chase & Co. $JPM Stock Holdings Trimmed by Baker Tilly Wealth Management LLC

Key Points

• Baker Tilly Wealth Management LLC reduced its holdings in JPMorgan Chase & Co. by 15.3% in the second quarter, owning a total of 9,708 shares valued at $2,814,000.
• JPMorgan recently raised its quarterly dividend to $1.50 per share, representing a 1.9% yield, with the ex-dividend date set for October 6th.
• JPMorgan Chase & Co. reported $4.96 earnings per share for the most recent quarter, surpassing analysts' expectations of $4.48, although revenue declined by 10.5% year-over-year.

Baker Tilly Wealth Management LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,708 shares of the financial services provider's stock after selling 1,749 shares during the quarter. JPMorgan Chase & Co. comprises 1.0% of Baker Tilly Wealth Management LLC's portfolio, making the stock its 20th largest position. Baker Tilly Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $2,814,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of JPM. Twin Lakes Capital Management LLC raised its position in shares of JPMorgan Chase & Co. by 0.3% in the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after buying an additional 40 shares during the period. First Command Advisory Services Inc. lifted its stake in shares of JPMorgan Chase & Co. by 0.4% in the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after purchasing an additional 40 shares in the last quarter. Black Swift Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.7% during the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after purchasing an additional 40 shares during the period. Beacon Bridge Wealth Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.8% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock worth $547,000 after purchasing an additional 40 shares during the period. Finally, Jackson Creek Investment Advisors LLC increased its position in JPMorgan Chase & Co. by 1.7% during the 1st quarter. Jackson Creek Investment Advisors LLC now owns 2,470 shares of the financial services provider's stock worth $606,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

JPM has been the subject of several research reports. Robert W. Baird downgraded 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 research note on Friday, June 27th. Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Morgan Stanley increased their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Finally, Truist Financial upped their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and a consensus price target of $292.78.

JPMorgan Chase & Co. Stock Up 0.7%

Shares of JPMorgan Chase & Co. stock traded up $2.08 during trading hours on Tuesday, hitting $314.52. 1,728,079 shares of the company's stock traded hands, compared to its average volume of 9,621,125. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $316.31. The company has a market cap of $864.85 billion, a PE ratio of 16.16, a PEG ratio of 2.09 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. The stock has a 50 day simple moving average of $296.91 and a 200-day simple moving average of $269.93.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the business posted $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts anticipate 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 declared 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 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company's stock.

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.