JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.3% during the 2nd quarter, Holdings Channel reports. The firm owned 6,922 shares of the financial services provider’s stock after acquiring an additional 470 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in JPMorgan Chase & Co. were worth $1,400,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital International Investors increased its position in JPMorgan Chase & Co. by 1.9% during the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after buying an additional 778,297 shares in the last quarter. Capital World Investors boosted its stake in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after acquiring an additional 150,812 shares during the last quarter. Capital Research Global Investors increased its position in JPMorgan Chase & Co. by 23.3% during the 1st 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 in the last quarter. Fisher Asset Management LLC raised its stake in JPMorgan Chase & Co. by 4.0% in the 4th quarter. Fisher Asset Management LLC now owns 11,836,898 shares of the financial services provider’s stock valued at $2,013,457,000 after purchasing an additional 450,098 shares during the last quarter. Finally, Sanders Capital LLC lifted its holdings in JPMorgan Chase & Co. by 3.2% in the 4th quarter. Sanders Capital LLC now owns 8,009,508 shares of the financial services provider’s stock valued at $1,362,417,000 after purchasing an additional 246,158 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley reduced their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Oppenheimer raised their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, 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. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $210.48 on Friday. The company’s fifty day simple moving average is $211.49 and its 200-day simple moving average is $201.47. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The company has a market cap of $604.43 billion, a PE ratio of 11.74, a P/E/G ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the firm earned $4.37 earnings per share. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

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; 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.