Clearbridge Investments LLC Sells 99,021 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Clearbridge Investments LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,458,056 shares of the financial services provider’s stock after selling 99,021 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.2% of Clearbridge Investments LLC’s holdings, making the stock its 10th largest position. Clearbridge Investments LLC’s holdings in JPMorgan Chase & Co. were worth $1,508,461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Retirement Group LLC raised its position 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 valued at $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $34,000. Finally, Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of several recent research reports. Oppenheimer lifted their price target 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. Evercore ISI increased their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Citigroup upped their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Piper Sandler increased their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.31.

JPMorgan Chase & Co. Stock Performance

JPM opened at $210.79 on Tuesday. 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 firm has a fifty day moving average price of $211.48 and a 200 day moving average price of $202.73. The stock has a market cap of $605.32 billion, a P/E ratio of 11.76, a P/E/G 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.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same period last year, the firm posted $4.37 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.89%.

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.