Spire Wealth Management Trims Stock Position in JPMorgan Chase & Co. $JPM

Spire Wealth Management trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 32.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,519 shares of the financial services provider’s stock after selling 32,643 shares during the quarter. Spire Wealth Management’s holdings in JPMorgan Chase & Co. were worth $19,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. Harbor Asset Planning Inc. acquired a new stake in JPMorgan Chase & Co. during the second quarter worth $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $37,000. Finally, Christopher J. Hasenberg Inc raised its holdings in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.3%

Shares of NYSE JPM opened at $314.30 on Friday. The stock has a market cap of $864.26 billion, a P/E ratio of 15.57, a PEG ratio of 1.84 and a beta of 1.14. 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. The business’s fifty day simple moving average is $306.18 and its 200-day simple moving average is $287.28.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the previous year, the firm posted $4.37 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were given a dividend of $1.50 per share. This is a boost 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 of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

Analysts Set New Price Targets

Several research analysts have weighed in on JPM shares. KGI Securities increased their target price on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Barclays boosted their target price on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $343.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.38.

Insider Activity at JPMorgan Chase & Co.

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

JPMorgan Chase & Co. Company 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.