SeaCrest Wealth Management LLC Reduces Position in JPMorgan Chase & Co. $JPM

Key Points

• SeaCrest Wealth Management LLC reduced its stake in JPMorgan Chase & Co. by 16.4%, now holding 24,323 shares valued at approximately $7.05 million, which is 0.8% of its investment portfolio.
• JPMorgan Chase & Co. increased its quarterly dividend from $1.40 to $1.50, with the new dividend set to be paid on October 31st, representing an annualized dividend of $6.00 and a yield of 1.9%.
• Currently, 71.55% of JPMorgan Chase & Co.'s stock is owned by institutional investors and hedge funds, indicating significant investment interest in the financial services provider.

SeaCrest Wealth Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 16.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 24,323 shares of the financial services provider's stock after selling 4,757 shares during the period. JPMorgan Chase & Co. accounts for about 0.8% of SeaCrest Wealth Management LLC's investment portfolio, making the stock its 20th biggest holding. SeaCrest Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $7,052,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the business. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the first quarter worth approximately $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $30,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth $33,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. in the 2nd quarter worth $37,000. Finally, Christopher J. Hasenberg Inc raised its stake in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock worth $45,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.7%

Shares of JPM stock traded down $2.23 during trading on Monday, reaching $312.55. The company's stock had a trading volume of 7,508,137 shares, compared to its average volume of 7,917,725. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average price of $296.43 and a 200-day moving average price of $269.43. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $315.80. The company has a market cap of $859.42 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion for 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%. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $6.12 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company 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 JPMorgan Chase & Co. stock in a transaction on 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 directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.47% of the company's stock.

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.