Secure Asset Management LLC Has $1.54 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Secure Asset Management LLC increased its position in JPMorgan Chase & Co. by 32.2%, acquiring a total of 5,314 shares valued at approximately $1.54 million.
• JPMorgan Chase recently announced a quarterly dividend of $1.50 per share, marking an increase from the previous dividend of $1.40, and representing a yield of 1.9%.
• The company's latest earnings report showed an earnings per share of $4.96, surpassing estimates, although revenue declined by 10.5% year-over-year, totaling $44.91 billion.

Secure Asset Management LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 32.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,314 shares of the financial services provider's stock after purchasing an additional 1,294 shares during the period. Secure Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $1,541,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of JPM. GAMMA Investing LLC lifted its holdings in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Nuveen LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $3,972,807,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $454,042,000. National Bank of Canada FI lifted its stake in shares of JPMorgan Chase & Co. by 44.4% during the 1st 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 last quarter. Finally, Strs Ohio bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $279,389,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business's 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 completion of the transaction, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock traded up $1.02 during trading hours on Friday, reaching $314.25. 23,513,937 shares of the stock were exchanged, compared to its average volume of 7,166,939. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $315.80. The company has a market cap of $864.11 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The stock has a 50 day moving average of $296.43 and a two-hundred day moving average of $269.15.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly 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 company had revenue of $44.91 billion during 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%. The firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.12 EPS. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS 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 $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. 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 28.73%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Truist Financial increased their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and a consensus price target of $292.78.

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.