Moran Wealth Management LLC Has $29.95 Million Position in JPMorgan Chase & Co. $JPM

Moran Wealth Management LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 28.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 103,297 shares of the financial services provider’s stock after selling 40,679 shares during the quarter. JPMorgan Chase & Co. comprises about 0.9% of Moran Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Moran Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $29,947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of JPM. Brighton Jones LLC boosted its stake in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. GAMMA Investing LLC boosted its stake in JPMorgan Chase & Co. by 5.8% in the first quarter. GAMMA Investing LLC now owns 96,029 shares of the financial services provider’s stock worth $23,556,000 after purchasing an additional 5,296 shares in the last quarter. Ironwood Wealth Management LLC. boosted its stake in JPMorgan Chase & Co. by 0.7% in the first quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock worth $3,778,000 after purchasing an additional 107 shares in the last quarter. Acorns Advisers LLC boosted its stake in JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares in the last quarter. Finally, Center for Financial Planning Inc. lifted its stake in shares of JPMorgan Chase & Co. by 2.2% during the first quarter. Center for Financial Planning Inc. now owns 17,254 shares of the financial services provider’s stock valued at $4,233,000 after acquiring an additional 379 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

JPM has been the topic of several research reports. Hsbc Global Res lowered JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. KGI Securities upped their price target on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target on the stock. in a research note on Friday, June 27th. Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $322.27.

JPMorgan Chase & Co. Trading Up 0.1%

NYSE JPM opened at $294.37 on Friday. The stock has a 50-day simple moving average of $303.23 and a 200 day simple moving average of $280.54. The company has a market capitalization of $809.44 billion, a PE ratio of 14.58, a P/E/G ratio of 1.77 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. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

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.