REDW Wealth LLC Invests $210,000 in JPMorgan Chase & Co. $JPM

REDW Wealth LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 723 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC lifted its position 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 worth $21,133,630,000 after purchasing an additional 72,885,260 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 2.7% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in JPMorgan Chase & Co. by 5.1% in the 1st 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 worth $4,523,588,000 after purchasing an additional 890,553 shares during the last quarter. Nuveen LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $3,972,807,000. Finally, Invesco Ltd. boosted its position in JPMorgan Chase & Co. by 4.1% in the 1st quarter. Invesco Ltd. now owns 13,754,558 shares of the financial services provider’s stock valued at $3,373,993,000 after buying an additional 547,110 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of a number of recent research reports. Weiss Ratings downgraded JPMorgan Chase & Co. from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 15th. Finally, Wolfe Research boosted their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $326.38.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Up 0.3%

JPM opened at $314.30 on Monday. The firm’s fifty day moving average is $306.18 and its two-hundred day moving average is $287.61. The firm has a market cap of $855.62 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month 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 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. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the previous year, the business earned $4.37 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate 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 was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

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.