Private Wealth Asset Management LLC Reduces Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Private Wealth Asset Management LLC reduced its holdings in JPMorgan Chase & Co. by 7.9% in Q2, trimming its position to approximately 29,687 shares valued at $8.6 million.
• Several institutional investors, including Kingstone Capital Partners Texas LLC and Nuveen LLC, significantly increased their stakes in JPMorgan Chase during the same period, highlighting strong institutional interest.
• JPMorgan Chase recently declared a quarterly dividend increase from $1.40 to $1.50 per share, reflecting a positive dividend yield of 2.0% and a payout ratio of 29.72%.

Private Wealth Asset Management LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,687 shares of the financial services provider's stock after selling 2,545 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.1% of Private Wealth Asset Management LLC's investment portfolio, making the stock its 19th largest position. Private Wealth Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $8,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of JPM. Kingstone Capital Partners Texas LLC boosted its stake in JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock worth $21,133,630,000 after buying an additional 72,885,260 shares during the period. Nuveen LLC purchased a new position in JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Montrusco Bolton Investments Inc. purchased a new position in JPMorgan Chase & Co. during the second quarter worth $485,802,000. National Bank of Canada FI boosted its stake in JPMorgan Chase & Co. by 44.4% during the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after buying an additional 1,388,992 shares during the period. Finally, Strs Ohio purchased a new position in JPMorgan Chase & Co. during the first quarter worth $279,389,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the 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 completion of the transaction, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $300.27 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The firm has a market capitalization of $825.66 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.81 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The stock's 50-day simple moving average is $303.43 and its 200-day simple moving average is $281.56.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the previous year, the firm earned $4.37 earnings per share. The company's revenue was up 8.8% on a year-over-year basis. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is presently 29.72%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a "buy" rating and set a $366.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Loop Capital set a $310.00 target price on shares of JPMorgan Chase & Co. in a research note on Thursday. Finally, Wolfe Research boosted their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an "outperform" rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average target price of $322.27.

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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