Axxcess Wealth Management LLC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Axxcess Wealth Management LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 16.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,839 shares of the financial services provider’s stock after selling 27,218 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.7% of Axxcess Wealth Management LLC’s holdings, making the stock its 27th biggest position. Axxcess Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $28,284,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Retirement Group LLC boosted its stake in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at $34,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on JPM. Barclays upped their target price on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of JPM stock opened at $211.09 on Friday. The company has a market capitalization of $606.18 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The company’s fifty day moving average price is $211.61 and its 200-day moving average price is $201.73. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the previous year, the business earned $4.37 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.66%.

JPMorgan Chase & Co. Company Profile

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 deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.