JPMorgan Chase & Co. (NYSE:JPM) Stake Lowered by SRN Advisors LLC

SRN Advisors LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 34.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,213 shares of the financial services provider’s stock after selling 1,703 shares during the period. SRN Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $677,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vicus Capital boosted its holdings in JPMorgan Chase & Co. by 15.1% in the first quarter. Vicus Capital now owns 10,931 shares of the financial services provider’s stock worth $2,190,000 after purchasing an additional 1,437 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in JPMorgan Chase & Co. in the first quarter worth $40,000. CRA Financial Services LLC boosted its holdings in JPMorgan Chase & Co. by 0.8% in the first quarter. CRA Financial Services LLC now owns 10,203 shares of the financial services provider’s stock worth $2,044,000 after purchasing an additional 82 shares in the last quarter. Brown Miller Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 3.1% in the first quarter. Brown Miller Wealth Management LLC now owns 45,284 shares of the financial services provider’s stock worth $9,070,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Foguth Wealth Management LLC. bought a new stake in JPMorgan Chase & Co. in the first quarter worth $220,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent research reports. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Daiwa Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $224.41 on Thursday. The stock has a market cap of $638.48 billion, a P/E ratio of 12.49, a PEG ratio of 3.28 and a beta of 1.11. The company’s 50-day simple moving average is $215.96 and its 200 day simple moving average is $206.15. JPMorgan Chase & Co. has a twelve month low of $137.47 and a twelve month high of $226.75. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.33 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.23%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

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.