Palumbo Wealth Management LLC Has $1.38 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Palumbo Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPMGet Rating) by 3.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,211 shares of the financial services provider’s stock after buying an additional 442 shares during the period. JPMorgan Chase & Co. comprises about 1.1% of Palumbo Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. Palumbo Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,375,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of JPM. Dravo Bay LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $26,000. HBC Financial Services PLLC increased its holdings in JPMorgan Chase & Co. by 61.2% in the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 90 shares in the last quarter. Grayhawk Investment Strategies Inc. acquired a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $32,000. Financial Connections Group Inc. increased its holdings in JPMorgan Chase & Co. by 48.5% in the 2nd quarter. Financial Connections Group Inc. now owns 306 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Finally, Advanced Research Investment Solutions LLC increased its holdings in JPMorgan Chase & Co. by 118.2% in the 1st quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 156 shares in the last quarter. Institutional investors and hedge funds own 68.57% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, Vice Chairman Peter Scher sold 1,310 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $125.02, for a total transaction of $163,776.20. Following the completion of the sale, the insider now owns 34,973 shares of the company’s stock, valued at $4,372,324.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $125.07, for a total transaction of $250,140.00. Following the sale, the insider now owns 19,031 shares in the company, valued at $2,380,207.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Peter Scher sold 1,310 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $125.02, for a total value of $163,776.20. Following the sale, the insider now owns 34,973 shares in the company, valued at approximately $4,372,324.46. The disclosure for this sale can be found here. Insiders sold 41,964 shares of company stock valued at $4,936,426 over the last three months. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $1.44 during trading hours on Thursday, reaching $136.48. The company had a trading volume of 7,316,204 shares, compared to its average volume of 11,552,875. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $169.81. The business has a fifty day simple moving average of $119.42 and a 200 day simple moving average of $118.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $400.32 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $3.12 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.17. JPMorgan Chase & Co. had a return on equity of 14.52% and a net margin of 26.85%. The firm had revenue of $32.72 billion during the quarter, compared to analyst estimates of $31.88 billion. During the same period last year, the company earned $3.74 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts anticipate that JPMorgan Chase & Co. will post 11.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Thursday, October 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Wednesday, October 5th. JPMorgan Chase & Co.’s payout ratio is currently 33.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Oppenheimer reduced their price target on JPMorgan Chase & Co. to $154.00 in a research report on Thursday, October 20th. Jefferies Financial Group set a $117.00 price objective on JPMorgan Chase & Co. in a research note on Monday, September 12th. Royal Bank of Canada set a $130.00 price objective on JPMorgan Chase & Co. in a research note on Monday, October 17th. UBS Group set a $124.00 price target on JPMorgan Chase & Co. in a research report on Tuesday, October 18th. Finally, The Goldman Sachs Group decreased their price target on JPMorgan Chase & Co. from $133.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $144.90.

JPMorgan Chase & Co. Profile

(Get Rating)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

Read More

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.