PMG Wealth Management Inc. Takes $268,000 Position in JPMorgan Chase & Co. $JPM

Key Points

• PMG Wealth Management Inc. acquired a new stake in JPMorgan Chase & Co. valued at approximately $268,000 during the second quarter, purchasing 925 shares.
• JPMorgan Chase recently announced a quarterly dividend increase from $1.40 to $1.50 per share, reflecting a 2.0% dividend yield for stockholders of record.
• Several institutional investors, including Brighton Jones LLC and Clare Market Investments LLC, have significantly increased their stakes in JPMorgan Chase, indicating strong institutional interest in the stock.

PMG Wealth Management Inc. purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 925 shares of the financial services provider's stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its stake in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Clare Market Investments LLC lifted its stake in JPMorgan Chase & Co. by 55.2% in the 1st quarter. Clare Market Investments LLC now owns 11,193 shares of the financial services provider's stock worth $2,746,000 after purchasing an additional 3,980 shares in the last quarter. Warren Street Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 2.2% in the 1st quarter. Warren Street Wealth Advisors LLC now owns 3,941 shares of the financial services provider's stock worth $967,000 after purchasing an additional 84 shares in the last quarter. McGrath & Associates Inc. lifted its stake in JPMorgan Chase & Co. by 8.9% in the 1st quarter. McGrath & Associates Inc. now owns 996 shares of the financial services provider's stock worth $244,000 after purchasing an additional 81 shares in the last quarter. Finally, Channel Wealth LLC lifted its stake in JPMorgan Chase & Co. by 4.8% in the 1st quarter. Channel Wealth LLC now owns 11,094 shares of the financial services provider's stock worth $2,721,000 after purchasing an additional 507 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $307.65 on Friday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The stock has a market capitalization of $845.96 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The company has a fifty day moving average of $300.44 and a 200-day moving average of $273.96. 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. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the prior year, the company earned $6.12 EPS. The firm's revenue was down 10.5% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 paid a $1.50 dividend. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $303.45.

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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