Thoroughbred Financial Services LLC Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

Thoroughbred Financial Services LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 46.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 99,539 shares of the financial services provider’s stock after buying an additional 31,470 shares during the period. JPMorgan Chase & Co. accounts for about 1.3% of Thoroughbred Financial Services LLC’s portfolio, making the stock its 8th largest holding. Thoroughbred Financial Services LLC’s holdings in JPMorgan Chase & Co. were worth $20,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $6,016,878,000. Swedbank AB acquired a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $800,130,000. Capital Research Global Investors boosted its position in JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Capital International Investors increased its holdings in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after purchasing an additional 2,128,478 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of JPMorgan Chase & Co. by 3,836.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after purchasing an additional 1,480,379 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Oppenheimer upped their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. 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. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, Jefferies Financial Group lifted their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $207.60 on Thursday. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. 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 company’s fifty day moving average is $211.43 and its 200 day moving average is $201.40. The stock has a market cap of $596.16 billion, a PE ratio of 11.58, a PEG ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping 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 business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same period last year, the business posted $4.37 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.41%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

JPMorgan Chase & Co. 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.