Deprince Race & Zollo Inc. Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Deprince Race & Zollo Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 265,599 shares of the financial services provider’s stock after selling 15,864 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.2% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 15th biggest position. Deprince Race & Zollo Inc.’s holdings in JPMorgan Chase & Co. were worth $53,720,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Retirement Group LLC boosted its stake in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. Richardson Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.3 %

JPM opened at $210.40 on Friday. The firm’s 50 day simple moving average is $211.47 and its two-hundred day simple moving average is $202.41. The company has a market capitalization of $598.62 billion, a PE ratio of 11.73, a PEG ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. 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 announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same period last year, the firm earned $4.37 EPS. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced 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. This represents a $5.00 annualized dividend and a yield of 2.38%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley dropped their target price on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. 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. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Jefferies Financial Group upped their target price 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.