LeConte Wealth Management LLC Acquires 1,307 Shares of JPMorgan Chase & Co. $JPM

Key Points

• LeConte Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 69.4%, acquiring an additional 1,307 shares and bringing their total to 3,190 shares valued at approximately $925,000.
• Director Linda Bammann sold 9,500 shares of JPMorgan stock for over $2.83 million, reducing her position by 10.36% to 82,207 shares, valued around $24.49 million.
• JPMorgan Chase recently increased its quarterly dividend from $1.40 to $1.50 per share, reflecting an annualized dividend of $6.00 and a yield of 1.9%.

LeConte Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 69.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,190 shares of the financial services provider's stock after acquiring an additional 1,307 shares during the period. JPMorgan Chase & Co. makes up 0.6% of LeConte Wealth Management LLC's holdings, making the stock its 23rd biggest holding. LeConte Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $925,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC grew its position in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Cerro Pacific Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 0.9% in the 1st quarter. Cerro Pacific Wealth Advisors LLC now owns 15,888 shares of the financial services provider's stock worth $3,809,000 after purchasing an additional 137 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 10.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 107,779 shares of the financial services provider's stock worth $26,438,000 after purchasing an additional 9,871 shares in the last quarter. Allied Investment Advisors LLC grew its position in JPMorgan Chase & Co. by 0.9% in the 1st quarter. Allied Investment Advisors LLC now owns 70,153 shares of the financial services provider's stock worth $17,209,000 after purchasing an additional 643 shares in the last quarter. Finally, Bowman & Co S.C. grew its position in JPMorgan Chase & Co. by 4.1% in the 1st quarter. Bowman & Co S.C. now owns 25,887 shares of the financial services provider's stock worth $6,351,000 after purchasing an additional 1,009 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred 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 in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $316.12 on Monday. The stock has a market capitalization of $869.25 billion, a P/E ratio of 16.22, a PEG ratio of 2.08 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm's 50 day moving average is $298.96 and its 200 day moving average is $272.32. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $317.81.

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 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for 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%. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $6.12 EPS. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on JPM shares. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Morgan Stanley increased their target price 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. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Citigroup increased their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a research report on Wednesday. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $297.17.

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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