Boyar Asset Management Inc. Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Boyar Asset Management Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,044 shares of the financial services provider’s stock after selling 2,039 shares during the period. JPMorgan Chase & Co. comprises about 7.8% of Boyar Asset Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Boyar Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $11,335,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of JPM. Retirement Group LLC boosted its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the last quarter. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $34,000. Partnership Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $36,000. Finally, Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. BMO Capital Markets increased their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.44.

JPMorgan Chase & Co. Stock Up 0.8 %

Shares of JPM opened at $207.23 on Thursday. The business’s 50 day moving average is $211.39 and its 200 day moving average is $200.61. 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 12-month low of $135.19 and a 12-month high of $225.48. The company has a market capitalization of $595.10 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12.

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

About JPMorgan Chase & Co.

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.