Miramar Capital LLC Sells 738 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Miramar Capital LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 52,537 shares of the financial services provider’s stock after selling 738 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.7% of Miramar Capital LLC’s investment portfolio, making the stock its 24th biggest holding. Miramar Capital LLC’s holdings in JPMorgan Chase & Co. were worth $10,626,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Instrumental Wealth LLC increased its stake in JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 47 shares during the last quarter. Gemmer Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 1.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after buying an additional 48 shares during the period. Great Point Wealth Advisors LLC lifted its position in JPMorgan Chase & Co. by 0.9% in the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock valued at $1,151,000 after buying an additional 48 shares during the last quarter. Northside Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 0.7% during the second quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after buying an additional 50 shares during the period. Finally, Highland Financial Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 0.7% during the second quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock valued at $1,427,000 after acquiring an additional 50 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on JPM. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Piper Sandler raised their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. BMO Capital Markets lifted their price objective on 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 note on Monday, July 15th. Finally, Jefferies Financial Group lifted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Trading Up 0.3 %

Shares of NYSE:JPM opened at $211.09 on Monday. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The company’s 50 day moving average is $211.61 and its two-hundred day moving average is $201.81. The company has a market cap of $606.18 billion, a PE ratio of 11.77, a P/E/G ratio of 2.33 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the prior year, the company posted $4.37 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend yield of 2.37%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

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.