Single Point Partners LLC Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Single Point Partners LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,611 shares of the financial services provider’s stock after selling 104 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.2% of Single Point Partners LLC’s holdings, making the stock its 13th largest holding. Single Point Partners LLC’s holdings in JPMorgan Chase & Co. were worth $761,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Instrumental Wealth LLC raised its holdings in JPMorgan Chase & Co. by 4.5% during the second 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 in the last quarter. Gemmer Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 1.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after purchasing an additional 48 shares in the last quarter. Great Point Wealth Advisors LLC increased its position 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 purchasing an additional 48 shares during the period. Waller Financial Planning Group Inc. raised its stake in shares of JPMorgan Chase & Co. by 1.7% during the 3rd quarter. Waller Financial Planning Group Inc. now owns 2,899 shares of the financial services provider’s stock worth $611,000 after buying an additional 49 shares in the last quarter. Finally, Northside Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock valued at $1,365,000 after buying an additional 50 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JPM has been the subject of several research analyst reports. Barclays increased their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Citigroup upped their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $212.13.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $205.17 on Friday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The stock has a market capitalization of $589.18 billion, a P/E ratio of 11.44, a PEG ratio of 2.39 and a beta of 1.11. 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 business’s fifty day moving average price is $211.32 and its 200 day moving average price is $202.90.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data 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. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period last year, the business posted $4.37 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.44%. 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%.

About JPMorgan Chase & Co.

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.