Proffitt & Goodson Inc. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,780 shares of the financial services provider’s stock after buying an additional 105 shares during the quarter. Proffitt & Goodson Inc.’s holdings in JPMorgan Chase & Co. were worth $1,277,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in JPM. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in shares of JPMorgan Chase & Co. by 81.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after buying an additional 99,636 shares during the last quarter. BCK Partners Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $2,455,000. LSV Asset Management boosted its holdings in JPMorgan Chase & Co. by 35.6% in the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after purchasing an additional 9,800 shares in the last quarter. Wsfs Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 70.8% during the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after buying an additional 1,749 shares in the last quarter. Finally, Lumature Wealth Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 1,451.4% during the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 3,527 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.
JPMorgan Chase & Co. Stock Down 1.7 %
JPMorgan Chase & Co. stock opened at $145.02 on Monday. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $159.38. The company’s 50-day moving average price is $150.02 and its two-hundred day moving average price is $142.34. The stock has a market cap of $421.44 billion, a P/E ratio of 9.33, a P/E/G ratio of 1.86 and a beta of 1.11. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28.
JPMorgan Chase & Co. Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be paid a $1.05 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, October 5th. JPMorgan Chase & Co.’s payout ratio is 25.74%.
Analysts Set New Price Targets
Several research firms recently issued reports on JPM. Jefferies Financial Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $165.00 in a report on Tuesday, July 11th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $174.00 to $180.00 in a research report on Monday, July 17th. HSBC initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, September 7th. They set a “hold” rating and a $159.00 target price for the company. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Friday, July 7th. Finally, Oppenheimer decreased their target price on JPMorgan Chase & Co. from $219.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 26th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $167.00.
Get Our Latest Analysis on JPMorgan Chase & Co.
Insider Buying and Selling at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the sale, the general counsel now directly owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.
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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