Keene & Associates Inc. Sells 105 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Keene & Associates Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,041 shares of the financial services provider’s stock after selling 105 shares during the quarter. Keene & Associates Inc.’s holdings in JPMorgan Chase & Co. were worth $615,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Retirement Group LLC increased 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 in the last quarter. Richardson Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $34,000. Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. during the first quarter worth $37,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter worth $40,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Jefferies Financial Group raised their price objective on 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, Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $210.98 on Friday. The business’s fifty day simple moving average is $211.61 and its 200 day simple moving average is $201.64. The firm has a market capitalization of $605.86 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. 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. (NYSE:JPM) last issued its earnings results 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. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the previous year, the company posted $4.37 earnings per share. As a group, analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

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.