Duff & Phelps Investment Management Co. Sells 26,721 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Duff & Phelps Investment Management Co. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 80.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,635 shares of the financial services provider’s stock after selling 26,721 shares during the period. Duff & Phelps Investment Management Co.’s holdings in JPMorgan Chase & Co. were worth $1,342,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Retirement Group LLC increased its position in shares of JPMorgan Chase & Co. by 227.1% during 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 period. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter worth about $32,000. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $34,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth $34,000. Finally, Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth $37,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.3 %

NYSE:JPM opened at $210.50 on Monday. 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. has a 52 week low of $135.19 and a 52 week high of $225.48. The stock has a market cap of $604.49 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.39 and a beta of 1.12. The company’s 50 day moving average price is $211.47 and its 200-day moving average price is $202.57.

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 analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the previous year, the company earned $4.37 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on JPM shares. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Morgan Stanley dropped their target price on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Oppenheimer boosted their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, Barclays raised their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

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.