Russell Investments Group Ltd. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,699,115 shares of the financial services provider’s stock after selling 302,910 shares during the period. JPMorgan Chase & Co. comprises 0.5% of Russell Investments Group Ltd.’s investment portfolio, making the stock its 23rd biggest holding. Russell Investments Group Ltd. owned approximately 0.06% of JPMorgan Chase & Co. worth $247,036,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of JPM. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of JPMorgan Chase & Co. by 97,681.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,056,747,063 shares of the financial services provider’s stock valued at $299,133,293,000 after purchasing an additional 2,054,643,659 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after purchasing an additional 97,907,897 shares in the last quarter. Morgan Stanley raised its stake in JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after purchasing an additional 8,088,433 shares during the last quarter. Geode Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 52,310,456 shares of the financial services provider’s stock valued at $6,801,125,000 after purchasing an additional 1,061,831 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of JPMorgan Chase & Co. by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,769,523 shares of the financial services provider’s stock worth $4,270,198,000 after buying an additional 2,285,429 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Odeon Capital Group downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research report on Thursday, November 2nd. Oppenheimer upped their price objective on shares of JPMorgan Chase & Co. from $233.00 to $243.00 and gave the company an “outperform” rating in a research note on Thursday, November 16th. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $168.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $158.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $168.80.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. stock opened at $153.29 on Tuesday. The company has a market cap of $443.16 billion, a PE ratio of 9.15, a P/E/G ratio of 1.80 and a beta of 1.12. JPMorgan Chase & Co. has a 12 month low of $123.11 and a 12 month high of $159.38. The company has a fifty day moving average price of $145.23 and a two-hundred 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.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.95 by $0.38. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The business had revenue of $40.69 billion during the quarter, compared to the consensus estimate of $39.63 billion. During the same quarter in the prior year, the firm earned $3.12 EPS. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were given a $1.05 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a yield of 2.74%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.07%.
Insider Activity at JPMorgan Chase & Co.
In related news, General Counsel Stacey Friedman sold 4,310 shares of the business’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 transaction of $624,346.60. Following the sale, the general counsel now owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.79% of the stock is currently owned by insiders.
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.
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