Solidarity Wealth LLC Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Solidarity Wealth LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 43.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,837 shares of the financial services provider’s stock after selling 5,194 shares during the quarter. Solidarity Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $1,442,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Retirement Group LLC grew its position in shares of JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. during the second quarter worth about $32,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $37,000. Finally, Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on JPM shares. Oppenheimer lowered their target price on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Piper Sandler raised their price objective 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. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. BMO Capital Markets increased their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.81.

JPMorgan Chase & Co. Trading Up 0.5 %

Shares of JPM opened at $222.94 on Monday. The stock has a market capitalization of $627.65 billion, a P/E ratio of 12.41, a PEG ratio of 3.24 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $139.23 and a twelve month high of $226.75. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a fifty day simple moving average of $216.15 and a two-hundred day simple moving average of $206.90.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period last year, the company earned $4.33 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that JPMorgan Chase & Co. will post 17.52 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

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.