MBL Wealth LLC Trims Stock Position in JPMorgan Chase & Co. $JPM

MBL Wealth LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,917 shares of the financial services provider’s stock after selling 217 shares during the period. MBL Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $2,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Florida Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 62.5% during the first 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 in the last quarter. Crown Wealth Group LLC raised its holdings in JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 222 shares in the last quarter. Mosaic Financial Group LLC raised its holdings in JPMorgan Chase & Co. by 0.8% during the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 78 shares in the last quarter. Morse Asset Management Inc raised its holdings in JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after purchasing an additional 420 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after purchasing an additional 112 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JPM. Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $313.89.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Down 1.4%

JPM stock opened at $301.12 on Friday. The company’s 50 day simple moving average is $301.61 and its 200-day simple moving average is $276.78. The firm has a market capitalization of $828.00 billion, a PE ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. 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. (NYSE:JPM) 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 analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $6.12 earnings per share. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share 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 given a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 30.79%.

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.