JPMorgan Chase & Co. (NYSE:JPM) Stock Position Lifted by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 640,488 shares of the financial services provider’s stock after buying an additional 24,952 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in JPMorgan Chase & Co. were worth $129,545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Group LLC increased its stake in shares of 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 acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. in the second quarter valued at about $32,000. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $34,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on JPM shares. Citigroup boosted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods upped 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. Finally, BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $211.09 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The company has a fifty day moving average price of $211.61 and a 200 day moving average price of $201.81. The stock has a market cap of $606.18 billion, a P/E ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share 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 business had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter last year, the company earned $4.37 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

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.