JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 880,314 shares of the financial services provider’s stock after selling 95,794 shares during the quarter. Cetera Investment Advisers’ holdings in JPMorgan Chase & Co. were worth $178,052,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Retirement Group LLC grew its stake in shares of JPMorgan Chase & Co. by 227.1% in 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 in the last quarter. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth about $32,000. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $34,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Finally, Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.1 %

Shares of JPMorgan Chase & Co. stock opened at $210.79 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $211.48 and a 200-day simple moving average of $202.73. The stock has a market cap of $605.32 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The firm had revenue of $50.80 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $4.37 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Analysts Set New Price Targets

Several research firms have recently commented on JPM. Jefferies Financial Group raised their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Finally, Oppenheimer boosted their target price on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $211.31.

JPMorgan Chase & Co. 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.