University of Texas Texas AM Investment Management Co. Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

University of Texas Texas AM Investment Management Co. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 76.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,989 shares of the financial services provider’s stock after selling 19,868 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in JPMorgan Chase & Co. were worth $1,211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Retirement Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the period. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at about $32,000. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at about $34,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on JPM shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Jefferies Financial Group boosted their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company raised 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 note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $211.31.

JPMorgan Chase & Co. Trading Down 1.8 %

Shares of JPMorgan Chase & Co. stock opened at $207.04 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50 day moving average price of $211.42 and a 200 day moving average price of $202.85. The company has a market capitalization of $594.55 billion, a P/E ratio of 11.55, a P/E/G ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same period in the previous year, the firm posted $4.37 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.41%. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

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.