Palacios Wealth Management LLC Raises Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Palacios Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 224.3%, owning 7,556 shares valued at approximately $2.19 million, making it the 14th largest position in their portfolio.
• JPMorgan recently announced a quarterly dividend increase to $1.50 per share, reflecting a boost from the prior dividend of $1.40, with a dividend yield now at 1.9%.
• Shares of JPMorgan reached a market cap of $859.37 billion with reported earnings of $4.96 EPS for the last quarter, surpassing analysts' expectations.

Palacios Wealth Management LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 224.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,556 shares of the financial services provider's stock after purchasing an additional 5,226 shares during the quarter. JPMorgan Chase & Co. comprises about 1.8% of Palacios Wealth Management LLC's investment portfolio, making the stock its 14th biggest position. Palacios Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $2,191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after acquiring an additional 40 shares in the last quarter. Black Swift Group LLC increased its position in JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after purchasing an additional 40 shares during the last quarter. Beacon Bridge Wealth Partners LLC lifted its position in JPMorgan Chase & Co. by 1.8% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 40 shares during the last quarter. Jackson Creek Investment Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 1.7% in the 1st quarter. Jackson Creek Investment Advisors LLC now owns 2,470 shares of the financial services provider's stock worth $606,000 after buying an additional 41 shares in the last quarter. Finally, Vawter Financial Ltd. increased its holdings in shares of JPMorgan Chase & Co. by 1.0% in the 1st quarter. Vawter Financial Ltd. now owns 3,971 shares of the financial services provider's stock worth $974,000 after buying an additional 41 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JPM. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $292.78.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.0%

Shares of NYSE JPM opened at $312.53 on Wednesday. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $316.31. The business has a fifty day moving average price of $297.43 and a 200 day moving average price of $270.22. The stock has a market capitalization of $859.37 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced 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 during 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 firm's revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.12 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

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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