IMG Wealth Management Inc. Grows Holdings in JPMorgan Chase & Co. $JPM

IMG Wealth Management Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,543 shares of the financial services provider’s stock after purchasing an additional 180 shares during the quarter. IMG Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $447,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC boosted its stake in shares of JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 period. Goldman Sachs Group Inc. boosted its stake in shares of 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 period. Finally, Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at $3,972,807,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

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 dated 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 in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Deutsche Bank Aktiengesellschaft boosted their target price 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. The Goldman Sachs Group restated a “buy” rating and set a $366.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. TD Cowen raised their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Wolfe Research raised their price target on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.27.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $311.47 on Friday. The firm has a market cap of $856.48 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.84 and a beta of 1.13. The firm has a 50-day simple moving average of $304.92 and a two-hundred day simple moving average of $284.12. JPMorgan Chase & Co. has a one year low of $202.16 and a one year 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.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The business had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.37 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 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.