Atticus Wealth Management LLC Acquires 2,551 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Atticus Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 65.4% during the 2nd quarter, owning a total of 6,453 shares valued at approximately $1.87 million.
• JPMorgan Chase & Co. announced a quarterly dividend increase from $1.40 to $1.50, reflecting a positive change in its dividend policy with a yield of 1.9%.
• The company's recent quarterly earnings report showed an EPS of $4.96, exceeding estimates, although revenue decreased by 10.5% year-over-year.

Atticus Wealth Management LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 65.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,453 shares of the financial services provider's stock after purchasing an additional 2,551 shares during the quarter. Atticus Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $1,871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $30,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $33,000. Christopher J. Hasenberg Inc grew its stake in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 106 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $64,000. 71.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on JPM. Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Finally, Truist Financial lifted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $292.78.

Insider Activity

In related 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 value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock traded down $2.05 on Monday, hitting $312.73. 4,235,313 shares of the company's stock were exchanged, compared to its average volume of 9,646,851. The company has a 50 day moving average of $296.43 and a 200 day moving average of $269.43. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $315.80. 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 cap of $859.93 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations 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 revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $6.12 EPS. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 payout ratio is 30.79%.

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.