Boston Partners Has $1.35 Billion Stake in JPMorgan Chase & Co. (NYSE:JPM)

Boston Partners reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,259,465 shares of the financial services provider’s stock after selling 207,973 shares during the period. JPMorgan Chase & Co. makes up 1.8% of Boston Partners’ portfolio, making the stock its largest holding. Boston Partners owned approximately 0.32% of JPMorgan Chase & Co. worth $1,351,341,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Nordwand Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter valued at $30,000. Sageworth Trust Co increased its holdings in shares of JPMorgan Chase & Co. by 266.7% in the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock worth $53,000 after buying an additional 296 shares during the last quarter. Aspire Private Capital LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $54,391,133,000. Miller Wealth Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $67,000. Finally, Robbins Farley grew its position in JPMorgan Chase & Co. by 54.2% in the first quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.3 %

JPMorgan Chase & Co. stock opened at $153.29 on Tuesday. JPMorgan Chase & Co. has a 1-year low of $123.11 and a 1-year high of $159.38. The business has a fifty day moving average price of $145.23 and a 200-day moving average price of $145.34. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $443.16 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 1.80 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, topping the consensus estimate of $3.95 by $0.38. The business had revenue of $40.69 billion during the quarter, compared to the consensus estimate of $39.63 billion. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The company’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the company earned $3.12 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were issued a $1.05 dividend. The ex-dividend date was Thursday, October 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.74%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.07%.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total value of $624,346.60. Following the sale, the general counsel now owns 53,425 shares in the company, valued at $7,739,145.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JPM. Royal Bank of Canada restated an “outperform” rating and issued a $158.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $168.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Jefferies Financial Group decreased their price objective on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a research note on Tuesday, October 10th. HSBC assumed coverage on JPMorgan Chase & Co. in a report on Thursday, September 7th. They issued a “hold” rating and a $159.00 price target on the stock. Finally, BMO Capital Markets boosted their price objective on JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $168.80.

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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.