Absolute Gestao de Investimentos Ltda. Buys Shares of 1,500 JPMorgan Chase & Co. (NYSE:JPM)

Absolute Gestao de Investimentos Ltda. bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, Holdings Channel.com reports. The institutional investor bought 1,500 shares of the financial services provider’s stock, valued at approximately $303,000. JPMorgan Chase & Co. accounts for approximately 0.2% of Absolute Gestao de Investimentos Ltda.’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Swedbank AB purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $800,130,000. Capital Research Global Investors lifted its position in JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares in the last quarter. Wulff Hansen & CO. boosted its stake in shares of JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after buying an additional 2,787,510 shares during the period. Capital International Investors grew its holdings in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after acquiring an additional 2,128,478 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of JPMorgan Chase & Co. by 3,836.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after acquiring an additional 1,480,379 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $209.78 on Friday. 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 business has a 50 day moving average price of $211.47 and a 200 day moving average price of $202.20. The company has a market cap of $596.86 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates 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 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 2.38%. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

Analyst Ratings Changes

A number of analysts recently issued reports on JPM shares. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley lowered their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, Jefferies Financial Group increased 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. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.