Kingswood Wealth Advisors LLC Has $8.70 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Kingswood Wealth Advisors LLC reduced its stake in JPMorgan Chase & Co. by 49.3% in Q2 2023, holding 29,999 shares worth approximately $8.70 million, representing 0.7% of its investment portfolio.
• JPMorgan Chase & Co. reported earnings of $5.07 per share, exceeding expectations by $0.24, and revenue of $46.43 billion for the quarter, up 8.8% year-over-year.
• The company recently increased its quarterly dividend from $1.40 to $1.50, reflecting a 2.0% dividend yield, with the next payment scheduled for October 31st.

Kingswood Wealth Advisors LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 49.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,999 shares of the financial services provider's stock after selling 29,148 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.7% of Kingswood Wealth Advisors LLC's investment portfolio, making the stock its 21st biggest holding. Kingswood Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $8,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $30,000. Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $37,000. Christopher J. Hasenberg Inc lifted its position in shares of JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after purchasing an additional 106 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $76,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $305.94 on Thursday. The firm has a market capitalization of $841.24 billion, a PE ratio of 15.15, a PEG ratio of 1.94 and a beta of 1.13. The company's 50-day moving average is $302.40 and its 200-day moving average is $277.80. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. The company had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company's revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.37 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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 given a $1.50 dividend. The ex-dividend date of this dividend is Monday, October 6th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is currently 30.79%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the 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 $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on JPM. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Weiss Ratings reissued a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 8th. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $366.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday. Finally, DZ Bank reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and a consensus price target of $319.40.

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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