Udine Wealth Management Inc. Sells 2,042 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Udine Wealth Management Inc. reduced its stake in JPMorgan Chase & Co. by 6.2%, selling 2,042 shares and now holding 30,752 shares valued at approximately $8.9 million.
• Recent research reports show analysts maintaining a generally positive outlook on JPMorgan Chase & Co., with fifteen analysts rating the stock as a Buy and adjusting target prices upward.
• JPMorgan Chase & Co. announced a dividend increase to $1.50 per share, reflecting a positive change from the previous $1.40 and indicating a dividend yield of 2.0%.

Udine Wealth Management Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,752 shares of the financial services provider's stock after selling 2,042 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 5.3% of Udine Wealth Management Inc.'s holdings, making the stock its 7th largest position. Udine Wealth Management Inc.'s holdings in JPMorgan Chase & Co. were worth $8,915,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of JPM. Kingstone Capital Partners Texas LLC boosted its stake in shares of JPMorgan Chase & Co. by 609,867.5% during the 2nd 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 acquiring an additional 72,885,260 shares in the last quarter. Bank of New York Mellon Corp boosted its position in JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock valued at $4,523,588,000 after purchasing an additional 890,553 shares during the last quarter. Finally, Nuveen LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at about $3,972,807,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent research reports. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Barclays lifted their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 15th. KGI Securities lifted their target price on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a "hold" rating in a research report on Wednesday, October 15th. Daiwa Capital Markets lifted their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reissued a "buy (b+)" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 8th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus price target of $322.86.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm'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 sale, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $297.09 on Wednesday. The stock's fifty day moving average is $303.16 and its 200-day moving average is $279.88. 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 has a market capitalization of $816.92 billion, a PE ratio of 14.71, a PEG ratio of 1.83 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter in the prior year, the business earned $4.37 EPS. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. Equities research 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 announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 presently 29.72%.

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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