Ninepoint Partners LP Takes $101,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Ninepoint Partners LP acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 499 shares of the financial services provider’s stock, valued at approximately $101,000.

Several other institutional investors have also made changes to their positions in JPM. Retirement Group LLC boosted its holdings in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at $34,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. in the first quarter valued at $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $210.40 on Friday. The firm has a market cap of $598.62 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month 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 stock has a 50-day moving average price of $211.47 and a 200 day moving average price of $202.41.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $42.23 billion. During the same period in the previous year, the firm posted $4.37 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. 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 annualized dividend and a dividend yield of 2.38%. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on JPM shares. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 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 report on Saturday, July 13th. BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.06.

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.