Castle Wealth Management LLC Has $2.43 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Castle Wealth Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,369 shares of the financial services provider’s stock after selling 315 shares during the quarter. Castle Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,426,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Florida Financial Advisors LLC raised its stake in JPMorgan Chase & Co. by 62.5% in the 1st 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. Mosaic Financial Group LLC raised its stake in JPMorgan Chase & Co. by 0.8% in the 1st 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 stake in JPMorgan Chase & Co. by 19.5% in the 1st 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. China Universal Asset Management Co. Ltd. raised its stake in JPMorgan Chase & Co. by 11.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock worth $3,838,000 after purchasing an additional 1,561 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 6.4% in the 1st quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider’s stock worth $4,953,000 after purchasing an additional 1,218 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JPM. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Finally, HSBC reissued a “reduce” rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $322.27.

JPMorgan Chase & Co. Trading Up 0.7%

Shares of JPMorgan Chase & Co. stock opened at $311.47 on Monday. The firm has a market capitalization of $856.48 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm’s 50 day moving average is $304.92 and its 200 day moving average is $284.86. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. The company had revenue of $46.43 billion for 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 firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.37 EPS. Equities research analysts forecast 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 declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were issued a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.