JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Condor Capital Management

Condor Capital Management cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,847 shares of the financial services provider’s stock after selling 756 shares during the quarter. Condor Capital Management’s holdings in JPMorgan Chase & Co. were worth $3,408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of JPM. Retirement Group LLC raised its holdings in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the last quarter. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the first quarter worth about $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the second quarter worth about $34,000. Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.8 %

JPM opened at $207.60 on Thursday. The firm’s 50 day moving average is $211.43 and its 200-day moving average is $201.40. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week 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 firm has a market capitalization of $596.16 billion, a P/E ratio of 11.58, a P/E/G ratio of 2.33 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 (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the previous year, the firm posted $4.37 EPS. Analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.41%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Analysts Set New Price Targets

Several research firms recently issued reports on JPM. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Eight investment 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 has a consensus rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Company 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.