Perigon Wealth Management LLC Has $35.83 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Perigon Wealth Management LLC reduced its holdings in JPMorgan Chase & Co. by 1.5%, owning 123,591 shares valued at approximately $35.83 million, which constitutes 0.8% of its portfolio.
• JPMorgan Chase's quarterly earnings surpassed analyst expectations, reporting $4.96 earnings per share against a consensus estimate of $4.48, with revenues of $44.91 billion for the quarter.
• The company has recently increased its quarterly dividend to $1.50 per share, representing an annualized yield of 1.9% and a positive change from the previous dividend of $1.40.

Perigon Wealth Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,591 shares of the financial services provider's stock after selling 1,878 shares during the period. JPMorgan Chase & Co. makes up 0.8% of Perigon Wealth Management LLC's portfolio, making the stock its 17th biggest position. Perigon Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $35,830,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Florida Financial Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $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 valued at $1,060,000 after acquiring 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 valued at $2,280,000 after acquiring an additional 78 shares in the last quarter. Morse Asset Management Inc lifted its stake in JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after acquiring an additional 420 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 4.2% in 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 acquiring an additional 112 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.9%

JPM stock opened at $316.12 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $869.25 billion, a PE ratio of 16.22, a PEG ratio of 2.08 and a beta of 1.13. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $317.81. The business's 50 day simple moving average is $298.96 and its 200 day simple moving average is $272.32.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share 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 analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's revenue 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, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 $1.50 dividend. 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 currently 28.73%.

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 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 transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on JPM shares. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Hold" and a consensus target price of $297.17.

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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