Rice Partnership LLC Raises Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Rice Partnership LLC increased its holdings in JPMorgan Chase & Co. by 11.0% during Q2, acquiring an additional 10,676 shares, resulting in a total of 107,930 shares valued at approximately $31.29 million.
• The company recently reported earnings of $5.07 per share for the quarter, surpassing analysts' expectations of $4.83 and showing an 8.8% year-over-year revenue increase.
• JPMorgan Chase has announced a quarterly dividend of $1.50 per share, which reflects an increase from the previous $1.40, resulting in a dividend yield of 2.0%.

Rice Partnership LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,930 shares of the financial services provider's stock after purchasing an additional 10,676 shares during the quarter. JPMorgan Chase & Co. accounts for about 5.4% of Rice Partnership LLC's portfolio, making the stock its 4th biggest position. Rice Partnership LLC's holdings in JPMorgan Chase & Co. were worth $31,290,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of JPM. Florida Financial Advisors LLC increased its position 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 worth $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Crown Wealth Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after acquiring an additional 222 shares during the last quarter. Mosaic Financial Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after acquiring an additional 78 shares during the last quarter. Morse Asset Management Inc increased its holdings in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after acquiring an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after acquiring an additional 112 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred 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 owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents 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. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $297.81 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The company has a market cap of $818.91 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.80 and a beta of 1.13. The business has a fifty day simple moving average of $302.82 and a 200 day simple moving average of $278.77.

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

JPMorgan Chase & Co. Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank Of Canada reissued a "buy" rating and set a $343.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a research note on Friday, June 27th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Finally, Barclays boosted their price target on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an "overweight" rating in a research note on Wednesday. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $319.40.

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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