Brandes Investment Partners LP Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Brandes Investment Partners LP lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 18.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 291,837 shares of the financial services provider’s stock after selling 65,220 shares during the period. Brandes Investment Partners LP’s holdings in JPMorgan Chase & Co. were worth $58,975,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Retirement Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the period. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $32,000. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $34,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Barclays raised their target price on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Piper Sandler lifted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Trading Up 0.3 %

JPM stock opened at $210.50 on Monday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The stock has a market capitalization of $604.49 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm’s fifty day simple moving average is $211.47 and its two-hundred day simple moving average is $202.57.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same period in the prior year, the firm posted $4.37 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

JPMorgan Chase & Co. Company Profile

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.