Meeder Asset Management Inc. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,227 shares of the financial services provider’s stock after selling 9,255 shares during the period. JPMorgan Chase & Co. makes up approximately 1.0% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 15th largest position. Meeder Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $11,798,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in JPM. Financial Gravity Wealth Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $150,000. Stelac Advisory Services LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $162,000. Private Ocean LLC lifted its holdings in shares of JPMorgan Chase & Co. by 94.7% in the first quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 824 shares during the last quarter. Avenir Corp bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $201,000. Finally, Reilly Herbert Faulkner III bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $202,000. Hedge funds and other institutional investors own 70.56% of the company’s stock.
JPMorgan Chase & Co. stock opened at $115.32 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 1.01. JPMorgan Chase & Co. has a 52-week low of $94.96 and a 52-week high of $119.33. The company has a market cap of $387.26 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.85 and a beta of 1.17.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 13th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.07. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. The firm had revenue of $27.75 billion during the quarter, compared to analyst estimates of $27.62 billion. Analysts forecast that JPMorgan Chase & Co. will post 9.17 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, October 5th will be issued a dividend of $0.80 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $3.20 annualized dividend and a yield of 2.77%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 46.58%.
In other JPMorgan Chase & Co. news, CEO Gordon Smith sold 30,725 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $114.01, for a total transaction of $3,502,957.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is currently owned by company insiders.
A number of research analysts have recently commented on JPM shares. Keefe, Bruyette & Woods reissued a “$111.53” rating and issued a $127.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, July 18th. Royal Bank of Canada reissued a “buy” rating and issued a $120.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 16th. Credit Suisse Group set a $130.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, July 12th. DZ Bank upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Finally, UBS Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $122.13.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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