Adams Diversified Equity Fund Inc. Sells 41,400 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Adams Diversified Equity Fund Inc. lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 13.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 262,963 shares of the financial services provider’s stock after selling 41,400 shares during the quarter. JPMorgan Chase & Co. makes up about 2.0% of Adams Diversified Equity Fund Inc.’s portfolio, making the stock its 7th biggest position. Adams Diversified Equity Fund Inc.’s holdings in JPMorgan Chase & Co. were worth $55,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mutual Advisors LLC grew its stake in JPMorgan Chase & Co. by 0.4% in the third quarter. Mutual Advisors LLC now owns 105,932 shares of the financial services provider’s stock valued at $23,833,000 after purchasing an additional 447 shares in the last quarter. Adell Harriman & Carpenter Inc. grew its stake in JPMorgan Chase & Co. by 1.3% in the third quarter. Adell Harriman & Carpenter Inc. now owns 116,647 shares of the financial services provider’s stock valued at $24,596,000 after purchasing an additional 1,523 shares in the last quarter. Avitas Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 1.2% in the third quarter. Avitas Wealth Management LLC now owns 68,742 shares of the financial services provider’s stock valued at $14,495,000 after purchasing an additional 807 shares in the last quarter. Highview Capital Management LLC DE grew its stake in JPMorgan Chase & Co. by 4.0% in the third quarter. Highview Capital Management LLC DE now owns 11,730 shares of the financial services provider’s stock valued at $2,473,000 after purchasing an additional 454 shares in the last quarter. Finally, Better Money Decisions LLC grew its stake in JPMorgan Chase & Co. by 7.4% in the third quarter. Better Money Decisions LLC now owns 3,044 shares of the financial services provider’s stock valued at $642,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of several research analyst reports. Daiwa Capital Markets reduced their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Citigroup lifted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $222.81.

JPMorgan Chase & Co. Stock Up 0.5 %

JPM stock opened at $222.94 on Friday. The stock’s 50 day simple moving average is $216.15 and its 200 day simple moving average is $206.72. JPMorgan Chase & Co. has a fifty-two week low of $139.23 and a fifty-two week high of $226.75. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.91 and a current ratio of 0.89. The company has a market cap of $627.65 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 3.28 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.33 earnings per share. On average, research analysts expect that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date was 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 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

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.