Linscomb Wealth Inc. Has $25.75 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Linscomb Wealth Inc. reduced its holdings in JPMorgan Chase & Co. by 2.6%, owning 104,969 shares valued at approximately $25.75 million, making it the 14th largest holding in the firm's portfolio.
• Several hedge funds have increased their stakes in JPMorgan Chase, with Florida Financial Advisors LLC raising its holdings by 62.5%.
• JPMorgan Chase recently reported earnings of $4.96 per share, exceeding analysts' expectations, alongside announcing a quarterly dividend of $1.40 per share.

Linscomb Wealth Inc. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,969 shares of the financial services provider's stock after selling 2,840 shares during the period. JPMorgan Chase & Co. accounts for 1.3% of Linscomb Wealth Inc.'s holdings, making the stock its 14th biggest holding. Linscomb Wealth Inc.'s holdings in JPMorgan Chase & Co. were worth $25,749,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Florida Financial Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after buying an additional 3,792 shares during the period. Fourth Dimension Wealth LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $471,000. Crown Wealth Group LLC lifted its holdings in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after buying an additional 222 shares during the period. Morse Asset Management Inc lifted its holdings in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after buying an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the transaction, the general counsel owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,557 shares of company stock valued at $4,113,796 over the last ninety days. 0.47% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on JPM shares. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Trading Up 1.2%

Shares of JPM stock opened at $294.03 on Friday. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $301.29. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day simple moving average of $285.93 and a two-hundred day simple moving average of $263.45. The company has a market capitalization of $808.52 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.93 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the firm posted $6.12 EPS. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

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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