Mitsubishi UFJ Asset Management UK Ltd. Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Mitsubishi UFJ Asset Management UK Ltd. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 43.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,000 shares of the financial services provider’s stock after selling 10,000 shares during the period. JPMorgan Chase & Co. accounts for 1.4% of Mitsubishi UFJ Asset Management UK Ltd.’s portfolio, making the stock its 17th largest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in JPMorgan Chase & Co. were worth $2,741,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JPM. RFG Advisory LLC increased its holdings in JPMorgan Chase & Co. by 0.3% during the 1st quarter. RFG Advisory LLC now owns 29,401 shares of the financial services provider’s stock worth $5,889,000 after purchasing an additional 85 shares during the period. First Affirmative Financial Network increased its stake in shares of JPMorgan Chase & Co. by 3.9% during the first quarter. First Affirmative Financial Network now owns 2,694 shares of the financial services provider’s stock valued at $540,000 after buying an additional 100 shares during the period. Meyer Handelman Co. increased its stake in shares of JPMorgan Chase & Co. by 8.6% during the first quarter. Meyer Handelman Co. now owns 283,626 shares of the financial services provider’s stock valued at $56,810,000 after buying an additional 22,518 shares during the period. Gulf International Bank UK Ltd raised its holdings in shares of JPMorgan Chase & Co. by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 246,585 shares of the financial services provider’s stock valued at $49,390,000 after acquiring an additional 4,033 shares in the last quarter. Finally, O Connor Financial Group LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $209,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on JPM shares. Daiwa Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Piper Sandler increased their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $225.37 on Monday. The company has a market cap of $647.19 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s fifty day moving average price is $214.03 and its 200 day moving average price is $204.58. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.92.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

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.