Simplicity Wealth LLC Acquires 22,740 Shares of JPMorgan Chase & Co. $JPM

Simplicity Wealth LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 76.2% in the second quarter, HoldingsChannel reports. The firm owned 52,585 shares of the financial services provider’s stock after purchasing an additional 22,740 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.6% of Simplicity Wealth LLC’s portfolio, making the stock its 29th biggest holding. Simplicity Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $15,245,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of JPM. Kingstone Capital Partners Texas LLC boosted its holdings in JPMorgan Chase & Co. by 609,867.5% in 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. Nuveen LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth $3,972,807,000. National Bank of Canada FI boosted its holdings in JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock worth $1,108,415,000 after purchasing an additional 1,388,992 shares in the last quarter. Strs Ohio bought a new stake in JPMorgan Chase & Co. in the first quarter worth $279,389,000. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in JPMorgan Chase & Co. in the first quarter worth $278,493,000. 71.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.4%

Shares of JPM opened at $301.12 on Monday. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $828.00 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.94 and a beta of 1.13. The company has a 50-day simple moving average of $301.61 and a 200-day simple moving average of $276.98.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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. The firm had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.12 earnings per share. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is currently 30.79%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. The Goldman Sachs Group upped their price target on shares of JPMorgan Chase & Co. from $336.00 to $350.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Fifteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $316.00.

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.