JPMorgan Chase & Co. $JPM is Cullen Capital Management LLC’s Largest Position

Cullen Capital Management LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,047,243 shares of the financial services provider’s stock after selling 19,967 shares during the period. JPMorgan Chase & Co. comprises approximately 3.5% of Cullen Capital Management LLC’s holdings, making the stock its largest position. Cullen Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $303,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC boosted its stake in shares of JPMorgan Chase & Co. by 609,867.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after buying an additional 72,885,260 shares in the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. in the second quarter worth $10,295,209,000. Laurel Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 28,813.7% in the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after acquiring an additional 16,727,530 shares during the period. Viking Global Investors LP lifted its holdings in JPMorgan Chase & Co. by 86.1% in the second quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock valued at $1,171,826,000 after acquiring an additional 1,870,386 shares during the period. Finally, Montrusco Bolton Investments Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $485,802,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction dated 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 sale, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by insiders.

Analysts Set New Price Targets

JPM has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, December 9th. Truist Financial boosted their price target 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. Finally, KGI Securities upped their price target on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $327.05.

JPMorgan Chase & Co. Stock Up 0.5%

JPM stock opened at $320.14 on Tuesday. The company’s 50 day simple moving average is $306.99 and its 200-day simple moving average is $297.25. The firm has a market capitalization of $871.50 billion, a PE ratio of 15.86, a P/E/G ratio of 1.65 and a beta of 1.08. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.88. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.83 by $0.24. The firm had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.37 EPS. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Tuesday, January 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

JPMorgan Chase & Co. Company Profile

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.