JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,561 shares of the financial services provider’s stock after selling 375 shares during the quarter. JPMorgan Chase & Co. comprises about 1.1% of Cigna Investments Inc. New’s portfolio, making the stock its 13th biggest holding. Cigna Investments Inc. New’s holdings in JPMorgan Chase & Co. were worth $6,233,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $1,888,088,000. Swedbank AB acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $800,130,000. Capital Research Global Investors lifted its position in shares of 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 in the last quarter. Wulff Hansen & CO. lifted its position in shares of JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after purchasing an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after purchasing an additional 1,396,194 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Piper Sandler raised their target price 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. Barclays raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $222.81.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $219.78 on Tuesday. The firm has a market cap of $618.76 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 3.24 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average is $216.17 and its two-hundred day moving average is $207.18. JPMorgan Chase & Co. has a 12-month low of $142.79 and a 12-month high of $226.75.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.28%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.