Core Alternative Capital Sells 11,624 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Core Alternative Capital lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 11.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,135 shares of the financial services provider’s stock after selling 11,624 shares during the quarter. JPMorgan Chase & Co. comprises 3.5% of Core Alternative Capital’s portfolio, making the stock its 4th largest position. Core Alternative Capital’s holdings in JPMorgan Chase & Co. were worth $17,624,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of JPM. Swedbank AB purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $800,130,000. Capital Research Global Investors increased its position in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. lifted its stake in shares of JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares in the last quarter. Capital International Investors boosted its holdings in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after purchasing an additional 2,128,478 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in JPMorgan Chase & Co. by 3,836.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after purchasing an additional 1,480,379 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JPM has been the topic of a number of recent analyst reports. Evercore ISI upped their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer boosted their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Jefferies Financial Group upped their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $210.50 on Monday. The firm’s 50 day moving average is $211.47 and its two-hundred day moving average is $202.57. The firm has a market capitalization of $604.49 billion, a P/E ratio of 11.74, a PEG ratio of 2.39 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results 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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same period last year, the firm earned $4.37 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.38%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

JPMorgan Chase & Co. 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.