JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Peloton Wealth Strategists

Peloton Wealth Strategists reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,336 shares of the financial services provider’s stock after selling 77 shares during the period. JPMorgan Chase & Co. comprises 3.2% of Peloton Wealth Strategists’ holdings, making the stock its 4th biggest position. Peloton Wealth Strategists’ holdings in JPMorgan Chase & Co. were worth $7,754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Instrumental Wealth LLC raised its holdings in shares of JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the period. Gemmer Asset Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.6% during 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 last quarter. Great Point Wealth Advisors LLC grew its holdings in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after acquiring an additional 48 shares in the last quarter. Northside Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.7% in the second quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after purchasing an additional 50 shares in the last quarter. Finally, Highland Financial Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock worth $1,427,000 after buying an additional 50 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on JPM. 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 report on Monday, July 15th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Jefferies Financial Group lifted their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Oppenheimer lifted their target price on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $210.40 on Friday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The business’s fifty day moving average is $211.47 and its two-hundred day moving average is $202.41. The stock has a market capitalization of $598.62 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.39 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

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, beating 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 business earned $4.37 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal 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 given 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 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.