Gilliland Jeter Wealth Management LLC Has $7.13 Million Stock Position in JPMorgan Chase & Co. $JPM

Gilliland Jeter Wealth Management LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,586 shares of the financial services provider’s stock after selling 207 shares during the period. JPMorgan Chase & Co. comprises 2.3% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 10th biggest position. Gilliland Jeter Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,128,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Florida Financial Advisors LLC grew 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 acquiring an additional 3,792 shares during the period. Crown Wealth Group LLC grew 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 acquiring an additional 222 shares during the period. Mosaic Financial Group LLC grew 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 acquiring an additional 78 shares during the period. Morse Asset Management Inc grew 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 acquiring an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC grew 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 acquiring an additional 112 shares during the period. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on JPM shares. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Daiwa Capital Markets lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, HSBC reiterated a “reduce” rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $319.40.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction 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 transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $297.81 on Friday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. 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 company has a market capitalization of $818.91 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.80 and a beta of 1.13. The company has a fifty day moving average of $302.82 and a 200-day moving average of $278.77.

JPMorgan Chase & Co. (NYSE:JPM) 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 analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period in the previous year, the firm posted $4.37 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts predict 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. Investors of record on Monday, October 6th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 6th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

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.