Channel Wealth LLC Acquires 215 Shares of JPMorgan Chase & Co. $JPM

Channel Wealth LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,309 shares of the financial services provider’s stock after purchasing an additional 215 shares during the period. Channel Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $3,278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Florida Financial Advisors LLC lifted its stake in JPMorgan Chase & Co. by 62.5% in the first 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 during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $471,000. Crown Wealth Group LLC lifted its position in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock valued at $1,060,000 after buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC boosted its stake in JPMorgan Chase & Co. by 0.8% in the first 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 in the last quarter. Finally, Morse Asset Management Inc grew its stake in 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 worth $630,000 after buying an additional 420 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm’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 of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $313.27 on Friday. The firm has a market cap of $861.41 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. The company’s 50 day moving average is $295.88 and its two-hundred day moving average is $268.71. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $313.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the business earned $6.12 EPS. JPMorgan Chase & Co.’s revenue was down 10.5% on a year-over-year basis. On average, research analysts expect 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 issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.73%.

Analyst Ratings Changes

A number of research analysts have issued reports on JPM shares. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Phillip Securities lowered JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Finally, HSBC restated a “reduce” rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $292.78.

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.