Port Capital LLC Sells 295 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Port Capital LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,099 shares of the financial services provider’s stock after selling 295 shares during the quarter. Port Capital LLC’s holdings in JPMorgan Chase & Co. were worth $1,075,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Advocate Group LLC grew its position in shares of JPMorgan Chase & Co. by 2.9% in the 2nd quarter. Advocate Group LLC now owns 44,409 shares of the financial services provider’s stock worth $8,982,000 after buying an additional 1,253 shares during the last quarter. Legacy Financial Strategies LLC raised its holdings in JPMorgan Chase & Co. by 16.0% in the 2nd quarter. Legacy Financial Strategies LLC now owns 3,801 shares of the financial services provider’s stock worth $793,000 after purchasing an additional 525 shares in the last quarter. Indiana Trust & Investment Management CO lifted its position in shares of JPMorgan Chase & Co. by 1.7% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 27,003 shares of the financial services provider’s stock worth $5,462,000 after purchasing an additional 459 shares during the period. Fortitude Family Office LLC boosted its stake in shares of JPMorgan Chase & Co. by 26.0% during the 2nd quarter. Fortitude Family Office LLC now owns 7,408 shares of the financial services provider’s stock valued at $1,498,000 after purchasing an additional 1,527 shares in the last quarter. Finally, Csenge Advisory Group raised its stake in JPMorgan Chase & Co. by 5.2% in the second quarter. Csenge Advisory Group now owns 33,891 shares of the financial services provider’s stock worth $6,855,000 after buying an additional 1,682 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of several recent research reports. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $234.81.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $244.82 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a 50 day moving average price of $228.56 and a 200-day moving average price of $214.37. JPMorgan Chase & Co. has a 52 week low of $155.88 and a 52 week high of $254.31. The firm has a market capitalization of $689.25 billion, a PE ratio of 13.62, a P/E/G ratio of 3.57 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.33 EPS. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.