Meridian Wealth Management LLC Has $56.36 Million Stake in JPMorgan Chase & Co. $JPM

Meridian Wealth Management LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the second quarter, HoldingsChannel.com reports. The fund owned 194,390 shares of the financial services provider’s stock after acquiring an additional 586 shares during the period. JPMorgan Chase & Co. comprises about 2.4% of Meridian Wealth Management LLC’s portfolio, making the stock its 8th largest holding. Meridian Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $56,356,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares in the last quarter. Acorns Advisers LLC grew its holdings in shares of JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 100 shares during the period. J.W. Cole Advisors Inc. raised its position in shares of JPMorgan Chase & Co. by 62.7% in the 1st quarter. J.W. Cole Advisors Inc. now owns 93,952 shares of the financial services provider’s stock worth $23,046,000 after acquiring an additional 36,212 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of JPMorgan Chase & Co. by 0.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 460,170 shares of the financial services provider’s stock valued at $112,879,000 after purchasing an additional 2,867 shares during the period. Finally, Blue Bell Private Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 7.2% during the first quarter. Blue Bell Private Wealth Management LLC now owns 2,781 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 187 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 0.2%

JPM stock opened at $297.82 on Monday. The stock has a market capitalization of $810.74 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.84 and a beta of 1.14. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The business has a fifty day moving average price of $307.43 and a 200-day moving average price of $291.79.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same period last year, the firm posted $4.37 earnings per share. JPMorgan Chase & Co.’s revenue was up 8.8% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The SEC filing for this sale provides additional information. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on JPM shares. Citigroup increased their price objective on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. Loop Capital set a $310.00 price objective on shares of JPMorgan Chase & Co. in a research note on Thursday, October 23rd. Finally, Wolfe Research upped their price objective on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $326.38.

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.