Opes Wealth Management LLC Sells 423 Shares of JPMorgan Chase & Co. $JPM

Opes Wealth Management LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 37.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 717 shares of the financial services provider’s stock after selling 423 shares during the quarter. Opes Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $208,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new position in JPMorgan Chase & Co. in the second quarter worth $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. in the first quarter worth $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. in the first quarter worth $30,000. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. in the second quarter worth $37,000. Finally, Christopher J. Hasenberg Inc grew its position in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $311.47 on Monday. The company has a 50-day simple moving average of $304.92 and a two-hundred day simple moving average of $284.86. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. 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.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The company 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%. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.37 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Saturday, October 25th. Finally, KGI Securities upped their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $322.27.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated 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 completion of the sale, the director directly owned 82,207 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

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.