JPMorgan Chase & Co. $JPM is Orca Wealth Management LLC’s 9th Largest Position

Orca Wealth Management LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the second quarter, Holdings Channel.com reports. The firm owned 14,147 shares of the financial services provider’s stock after selling 240 shares during the quarter. JPMorgan Chase & Co. makes up 3.5% of Orca Wealth Management LLC’s holdings, making the stock its 9th biggest holding. Orca Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at about $37,000. Christopher J. Hasenberg Inc boosted its holdings in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares during the period. Finally, Goodman Advisory Group LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $76,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $2,830,430.00. Following the completion of the transaction, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of several analyst reports. Truist Financial increased their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Bank of America increased their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Phillip Securities cut JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a research report on Friday. 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of $316.00.

JPMorgan Chase & Co. Trading Down 1.4%

JPM opened at $301.12 on Monday. The business has a 50 day simple moving average of $301.61 and a two-hundred day simple moving average of $276.98. The firm has a market capitalization of $828.00 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.94 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 EPS. JPMorgan Chase & Co.’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

About JPMorgan Chase & Co.

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.