Russell Investments Group Ltd. decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,699,115 shares of the financial services provider’s stock after selling 302,910 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.5% of Russell Investments Group Ltd.’s portfolio, making the stock its 23rd biggest holding. Russell Investments Group Ltd. owned about 0.06% of JPMorgan Chase & Co. worth $247,036,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Cantor Fitzgerald Investment Advisor L.P lifted its position in shares of JPMorgan Chase & Co. by 81.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after acquiring an additional 99,636 shares during the period. BCK Partners Inc. purchased a new position in JPMorgan Chase & Co. during the first quarter worth $2,455,000. LSV Asset Management raised its holdings in shares of JPMorgan Chase & Co. by 35.6% in the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after acquiring an additional 9,800 shares during the last quarter. Wsfs Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 70.8% in the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after acquiring an additional 1,749 shares in the last quarter. Finally, Lumature Wealth Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 1,451.4% during the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 3,527 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have issued reports on JPM. BMO Capital Markets upped their target price on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $158.00 price target on shares of JPMorgan Chase & Co. in a report on Friday, September 8th. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $158.00 to $167.00 in a report on Thursday, October 5th. Odeon Capital Group downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research report on Thursday, November 2nd. Finally, Morgan Stanley increased their target price on JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $168.80.
Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the transaction, the general counsel now owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Stock Up 0.3 %
NYSE:JPM opened at $153.29 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $443.16 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.12. JPMorgan Chase & Co. has a one year low of $123.11 and a one year high of $159.38. The stock has a 50-day simple moving average of $145.23 and a 200 day simple moving average of $145.34.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.95 by $0.38. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The business had revenue of $40.69 billion during the quarter, compared to the consensus estimate of $39.63 billion. During the same period in the previous year, the business earned $3.12 EPS. The business’s quarterly revenue was up 24.4% on a year-over-year basis. Sell-side analysts predict that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were issued a $1.05 dividend. The ex-dividend date was Thursday, October 5th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a dividend yield of 2.74%. JPMorgan Chase & Co.’s payout ratio is 25.07%.
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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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