Avaii Wealth Management LLC Increases Stake in JPMorgan Chase & Co. $JPM

Avaii Wealth Management LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 29.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,739 shares of the financial services provider’s stock after buying an additional 5,931 shares during the quarter. JPMorgan Chase & Co. comprises approximately 3.3% of Avaii Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding. Avaii Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,462,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Palumbo Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 3.3% in the second quarter. Palumbo Wealth Management LLC now owns 11,998 shares of the financial services provider’s stock valued at $3,478,000 after buying an additional 381 shares in the last quarter. McAdam LLC lifted its stake in JPMorgan Chase & Co. by 1.2% in the second quarter. McAdam LLC now owns 4,993 shares of the financial services provider’s stock valued at $1,448,000 after buying an additional 59 shares in the last quarter. Great Oak Capital Partners LLC lifted its stake in JPMorgan Chase & Co. by 1.0% in the second quarter. Great Oak Capital Partners LLC now owns 4,539 shares of the financial services provider’s stock valued at $1,302,000 after buying an additional 46 shares in the last quarter. Cora Capital Advisors LLC lifted its stake in JPMorgan Chase & Co. by 3.3% in the second quarter. Cora Capital Advisors LLC now owns 8,279 shares of the financial services provider’s stock valued at $2,400,000 after buying an additional 265 shares in the last quarter. Finally, Well Done LLC lifted its stake in JPMorgan Chase & Co. by 0.5% in the second quarter. Well Done LLC now owns 11,322 shares of the financial services provider’s stock valued at $3,282,000 after buying an additional 52 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on JPM shares. 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 research report on Wednesday. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. HSBC reissued a “reduce” rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Finally, Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $297.17.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $316.12 on Friday. The company has a market cap of $869.25 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.08 and a beta of 1.13. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $317.81. The company’s fifty day simple moving average is $298.96 and its 200 day simple moving average is $271.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $6.12 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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 is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.73%.

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.