MGB Wealth Management LLC Has $3.26 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

MGB Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,332 shares of the financial services provider's stock after buying an additional 1,964 shares during the quarter. JPMorgan Chase & Co. comprises about 1.2% of MGB Wealth Management LLC's portfolio, making the stock its 12th largest holding. MGB Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $3,262,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Measured Risk Portfolios Inc. bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $44,000. Finally, Glass Jacobson Investment Advisors llc boosted its holdings in JPMorgan Chase & Co. by 41.4% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 222 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $288.55 on Monday. The firm has a market cap of $793.44 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. The firm's fifty day moving average is $283.74 and its 200-day moving average is $262.68. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29.

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 analysts' consensus estimates 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 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 quarter in the previous year, the business earned $6.12 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the sale, the general counsel directly owned 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,557 shares of company stock worth $4,113,796. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

JPM has been the subject of several analyst reports. HSBC restated a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. 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. 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 research report on Monday, June 30th. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. 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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