Morangie Management LLC Has $4.89 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Morangie Management LLC increased its position in JPMorgan Chase & Co. by 28.7% during the 2nd quarter, holding shares worth approximately $4.89 million, which constitutes 4.2% of its investment portfolio.
• Analysts have set a consensus price target of $297.17 for JPMorgan Chase & Co., with several rating it as a "Buy" while others have assigned "Hold" or "Sell" ratings.
• The company announced an increase in its quarterly dividend to $1.50 per share, with the dividend yielding 1.9% for shareholders, reflecting a positive change from the previous dividend of $1.40.

Morangie Management LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 28.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,876 shares of the financial services provider's stock after purchasing an additional 3,764 shares during the quarter. JPMorgan Chase & Co. comprises approximately 4.2% of Morangie Management LLC's investment portfolio, making the stock its 8th largest position. Morangie Management LLC's holdings in JPMorgan Chase & Co. were worth $4,893,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. MBE Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 3.5% during the 2nd quarter. MBE Wealth Management LLC now owns 3,638 shares of the financial services provider's stock worth $1,055,000 after buying an additional 124 shares during the period. Old North State Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 10.0% during the 2nd quarter. Old North State Wealth Management LLC now owns 3,311 shares of the financial services provider's stock worth $962,000 after buying an additional 300 shares during the period. Colton Groome Financial Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 1.9% during the 2nd quarter. Colton Groome Financial Advisors LLC now owns 5,603 shares of the financial services provider's stock worth $1,624,000 after buying an additional 107 shares during the period. Maridea Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $1,247,000. Finally, Magnus Financial Group LLC grew its position in shares of JPMorgan Chase & Co. by 1.0% during the 2nd quarter. Magnus Financial Group LLC now owns 55,353 shares of the financial services provider's stock worth $16,047,000 after buying an additional 542 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on JPM shares. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Hold" and a consensus price target of $297.17.

Insider Transactions at JPMorgan Chase & Co.

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 transaction of $2,830,430.00. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPM 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 price-to-earnings ratio of 16.22, a P/E/G ratio of 2.08 and a beta of 1.13. The firm's fifty day moving average price is $298.96 and its two-hundred day moving average price is $272.32. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $317.81.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted 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. The firm 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 business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.12 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

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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