Lineweaver Wealth Advisors LLC Purchases 1,497 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Lineweaver Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 5.9%, owning 26,688 shares valued at approximately $7.7 million, making it their 21st largest holding.
• JPMorgan Chase recently announced a quarterly dividend increase to $1.50 per share, up from the previous $1.40, with an annual yield of 1.9% and a payout ratio of 28.73%.
• Analysts currently rate JPMorgan Chase shares with a consensus rating of "Moderate Buy" and a price target of $292.78, reflecting optimism about the company's performance.

Lineweaver Wealth Advisors LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 26,688 shares of the financial services provider's stock after purchasing an additional 1,497 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.2% of Lineweaver Wealth Advisors LLC's holdings, making the stock its 21st largest holding. Lineweaver Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $7,737,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $33,000. Christopher J. Hasenberg Inc grew its holdings in shares of 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 worth $45,000 after purchasing an additional 106 shares during the period. Finally, Capital A Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.3%

JPMorgan Chase & Co. stock traded up $1.02 during trading hours on Friday, hitting $314.25. The company had a trading volume of 23,513,937 shares, compared to its average volume of 7,166,939. The firm has a market capitalization of $864.11 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The firm's fifty day moving average is $296.43 and its 200-day moving average is $269.27. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week 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.

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, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $6.12 EPS. On average, research analysts forecast 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. Shareholders 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 represents a $6.00 annualized dividend and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

Analyst Ratings Changes

A number of equities analysts have weighed in on JPM shares. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Bank of America upped their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Morgan Stanley upped their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average target price of $292.78.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

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.