Lineweaver Wealth Advisors LLC Raises Holdings in 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 grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,688 shares of the financial services provider's stock after buying an additional 1,497 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.2% of Lineweaver Wealth Advisors LLC's investment portfolio, making the stock its 21st biggest position. 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 and hedge funds have also recently modified their holdings of JPM. Bank of New York Mellon Corp lifted its position in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after buying an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock valued at $4,523,588,000 after buying an additional 890,553 shares in the last quarter. Finally, Nuveen LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $3,972,807,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Down 0.7%

Shares of NYSE JPM traded down $2.23 during mid-day trading on Monday, reaching $312.55. 7,508,137 shares of the company were exchanged, compared to its average volume of 7,917,725. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $315.80. The firm has a 50-day moving average of $296.91 and a 200 day moving average of $269.93. The stock has a market cap of $859.42 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 2.09 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its 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 company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.12 earnings per share. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced 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 a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Analyst Ratings Changes

A number of brokerages have recently commented on JPM. Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. HSBC reiterated a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Truist Financial raised 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. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $292.78.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

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.