Maridea Wealth Management LLC Makes New Investment in JPMorgan Chase & Co. $JPM

Key Points

• Maridea Wealth Management LLC has taken a new position in JPMorgan Chase & Co., purchasing 4,300 shares valued at approximately $1.25 million during the 2nd quarter.
• JPMorgan Chase recently increased its quarterly dividend to $1.50 per share, which represents an annualized dividend of $6.00 and a yield of 1.9%.
• The company's latest earnings report showed an EPS of $4.96, surpassing analysts' expectations, despite a 10.5% drop in revenue compared to the previous year.

Maridea Wealth Management LLC purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,300 shares of the financial services provider's stock, valued at approximately $1,247,000.

Other hedge funds have also bought and sold shares of the company. Florida Financial Advisors LLC lifted its stake in JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after purchasing an additional 3,792 shares in the last quarter. Crown Wealth Group LLC lifted its stake in JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after purchasing an additional 222 shares in the last quarter. Mosaic Financial Group LLC lifted its stake in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after purchasing an additional 78 shares in the last quarter. Morse Asset Management Inc raised its position in shares of JPMorgan Chase & Co. by 19.5% during the 1st 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 in the last quarter. Finally, Hidden Cove Wealth Management LLC raised its position in shares of JPMorgan Chase & Co. by 4.2% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

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

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

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, October 6th. This represents a $6.00 dividend on an annualized basis 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 payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JPM. Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a research report on Tuesday, September 23rd. Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $297.17.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's 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 in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is 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.

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