Thrivent Financial for Lutherans Sells 156,935 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Thrivent Financial for Lutherans cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,692,532 shares of the financial services provider’s stock after selling 156,935 shares during the quarter. JPMorgan Chase & Co. comprises 0.7% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 10th largest holding. Thrivent Financial for Lutherans’ holdings in JPMorgan Chase & Co. were worth $342,331,000 as of its most recent SEC filing.

Several other hedge funds also recently 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 in the last quarter. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at $32,000. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. in the first quarter worth $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter worth $34,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $37,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JPM shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Jefferies Financial Group raised their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Citigroup upped their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Wells Fargo & Company raised 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. Finally, Evercore ISI upped 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. Eight equities 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 currently has an average rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $211.70 on Wednesday. The company has a 50 day moving average price of $211.60 and a 200 day moving average price of $202.14. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week 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 stock has a market capitalization of $607.92 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its 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. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the previous year, the company posted $4.37 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

About JPMorgan Chase & Co.

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.