AQR Capital Management LLC Lowers Position in JPMorgan Chase & Co. $JPM

AQR Capital Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,329,821 shares of the financial services provider’s stock after selling 99,962 shares during the quarter. AQR Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $385,528,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Harbor Asset Planning Inc. bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 90 shares during the last quarter. Ryan Investment Management Inc. purchased a new position in JPMorgan Chase & Co. in the second quarter worth $37,000. Christopher J. Hasenberg Inc increased its stake in JPMorgan Chase & Co. by 212.0% in the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Clarity Asset Management Inc. raised its position in JPMorgan Chase & Co. by 87.1% during the second quarter. Clarity Asset Management Inc. now owns 217 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 101 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JPM shares. KGI Securities upped their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Truist Financial upped their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research note on Tuesday, September 23rd. UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $325.48.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Up 0.4%

NYSE:JPM opened at $318.74 on Friday. The company has a fifty day moving average of $306.77 and a 200 day moving average of $296.41. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $322.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $867.69 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.64 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter last year, the firm earned $4.37 EPS. The company’s revenue was up 8.8% on a year-over-year basis. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Tuesday, January 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.