Total Wealth Planning LLC Takes Position in JPMorgan Chase & Co. $JPM

Key Points

• Total Wealth Planning LLC acquired a new stake in JPMorgan Chase & Co., buying 8,899 shares valued at approximately $2.58 million during the second quarter.
• Analysts have mixed opinions on JPMorgan, with Citigroup raising their price target to $325 while HSBC issued a "reduce" rating at $259.
• JPMorgan Chase & Co. announced a quarterly dividend increase to $1.50 per share, resulting in an annualized dividend of $6.00 and a yield of 1.9%.

Total Wealth Planning LLC acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 8,899 shares of the financial services provider's stock, valued at approximately $2,580,000.

Other large investors have also recently made changes to their positions in the company. Florida Financial Advisors LLC lifted 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 valued at $2,416,000 after buying an additional 3,792 shares in the last quarter. Crown Wealth Group LLC lifted its position 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 valued at $1,060,000 after buying an additional 222 shares in the last quarter. Mosaic Financial Group LLC lifted its position 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 valued at $2,280,000 after buying an additional 78 shares in the last quarter. Morse Asset Management Inc lifted its position 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 valued at $630,000 after buying an additional 420 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC lifted its position 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 valued at $677,000 after buying an additional 112 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Citigroup lifted their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a "neutral" rating in a research report on Wednesday. Wells Fargo & Company lifted their target price 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. HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued 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 "Hold" and a consensus target price of $297.17.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $316.12 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $317.81. The stock's 50 day simple moving average is $298.96 and its two-hundred day simple moving average is $271.99. The company has a market cap of $869.25 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.08 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the company posted $6.12 EPS. The company's revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

About JPMorgan Chase & Co.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.