JPMorgan Chase & Co. $JPM Shares Sold by Eagle Wealth Strategies LLC

Key Points

• Eagle Wealth Strategies LLC has reduced its stake in JPMorgan Chase & Co. by 12.3%, now holding 8,050 shares worth approximately $2.33 million.
• The company has recently announced a quarterly dividend increase to $1.50 per share, with a payout ratio of 28.73% and a dividend yield of 1.9%.
• JPMorgan Chase & Co. reported quarterly earnings of $4.96 EPS, exceeding estimates, although revenue decreased by 10.5% year-over-year.

Eagle Wealth Strategies LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,050 shares of the financial services provider's stock after selling 1,130 shares during the period. JPMorgan Chase & Co. comprises 1.3% of Eagle Wealth Strategies LLC's portfolio, making the stock its 13th largest holding. Eagle Wealth Strategies LLC's holdings in JPMorgan Chase & Co. were worth $2,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Eclectic Associates Inc. ADV boosted its holdings in JPMorgan Chase & Co. by 9.2% during the second quarter. Eclectic Associates Inc. ADV now owns 17,934 shares of the financial services provider's stock worth $5,199,000 after buying an additional 1,512 shares in the last quarter. Eagle Bluffs Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 0.4% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 12,058 shares of the financial services provider's stock worth $3,496,000 after buying an additional 54 shares in the last quarter. Lee Johnson Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 36.0% during the second quarter. Lee Johnson Capital Management LLC now owns 24,494 shares of the financial services provider's stock worth $7,101,000 after buying an additional 6,481 shares in the last quarter. Park Place Capital Corp boosted its holdings in JPMorgan Chase & Co. by 13.8% during the second quarter. Park Place Capital Corp now owns 16,981 shares of the financial services provider's stock worth $4,932,000 after buying an additional 2,053 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 2.3% during the second quarter. Capital Investment Advisors LLC now owns 229,308 shares of the financial services provider's stock worth $66,479,000 after buying an additional 5,220 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $309.89 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $852.11 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 2.04 and a beta of 1.13. The company's 50 day simple moving average is $300.67 and its 200 day simple moving average is $274.97. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.12 earnings per share. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. The Goldman Sachs Group upped their price target on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a "buy" rating in a report on Friday. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Finally, TD Cowen upped their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a "buy" rating in a report on Friday. Fifteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $307.70.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred 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 owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Company 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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