Moran Wealth Management LLC Has $29.95 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Moran Wealth Management LLC reduced its stake in JPMorgan Chase & Co. by 28.3% during the 2nd quarter, holding approximately <$29.95 Million worth of shares at the close of the reporting period.
• JPMorgan Chase & Co. recently reported a quarterly earnings of $5.07 per share, surpassing analysts' expectations and reflecting an 8.8% year-over-year revenue growth.
• The company increased its quarterly dividend from $1.40 to $1.50, translating to an annualized dividend yield of 2.0%.

Moran Wealth Management LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 28.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,297 shares of the financial services provider's stock after selling 40,679 shares during the quarter. JPMorgan Chase & Co. makes up about 0.9% of Moran Wealth Management LLC's investment portfolio, making the stock its 18th largest holding. Moran Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $29,947,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Revolve Wealth Partners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.0% during the 2nd quarter. Revolve Wealth Partners LLC now owns 14,042 shares of the financial services provider's stock valued at $4,071,000 after buying an additional 145 shares during the last quarter. Elefante Mark B acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $231,000. Cornerstone Wealth Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.0% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 61,564 shares of the financial services provider's stock valued at $17,848,000 after buying an additional 1,205 shares during the last quarter. Kellett Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 34.4% during the 2nd quarter. Kellett Wealth Advisors LLC now owns 2,198 shares of the financial services provider's stock valued at $637,000 after buying an additional 562 shares during the last quarter. Finally, NorthRock Partners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.8% during the 2nd quarter. NorthRock Partners LLC now owns 68,583 shares of the financial services provider's stock valued at $19,883,000 after buying an additional 7,245 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

JPM opened at $294.37 on Friday. The stock has a market cap of $809.44 billion, a PE ratio of 14.58, a P/E/G ratio of 1.77 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock's 50 day simple moving average is $303.23 and its 200-day simple moving average is $280.54.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.83 by $0.24. The business had revenue of $46.43 billion for the quarter, compared to analysts' expectations of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.JPMorgan Chase & Co.'s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.37 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid 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 2.0%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is presently 29.72%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on JPM shares. Deutsche Bank Aktiengesellschaft lifted their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a "hold" rating in a report on Tuesday, September 30th. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 15th. TD Cowen boosted their target price on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $322.27.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction 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 sale, the director 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 Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate 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.

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