JPMorgan Chase & Co. (NYSE:JPM) Stake Reduced by SlateStone Wealth LLC

SlateStone Wealth LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPMGet Rating) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,782 shares of the financial services provider’s stock after selling 1,973 shares during the quarter. SlateStone Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $2,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $4,092,843,000. GQG Partners LLC raised its holdings in JPMorgan Chase & Co. by 403.3% during the 4th quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock worth $806,728,000 after buying an additional 4,083,231 shares during the period. Renaissance Technologies LLC raised its holdings in JPMorgan Chase & Co. by 1,543.7% during the 4th quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider’s stock worth $529,124,000 after buying an additional 3,138,200 shares during the period. State Street Corp raised its holdings in JPMorgan Chase & Co. by 1.6% during the 4th quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock worth $22,441,376,000 after buying an additional 2,277,065 shares during the period. Finally, Schroder Investment Management Group raised its holdings in JPMorgan Chase & Co. by 21.4% during the 4th quarter. Schroder Investment Management Group now owns 5,393,466 shares of the financial services provider’s stock worth $854,055,000 after buying an additional 952,346 shares during the period. 70.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on JPM shares. Barclays set a $200.00 price objective on JPMorgan Chase & Co. in a report on Monday, July 18th. Morgan Stanley cut their price objective on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a report on Tuesday, July 12th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $148.00 price objective (up previously from $142.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 24th. Credit Suisse Group dropped their target price on JPMorgan Chase & Co. from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, July 15th. Finally, UBS Group dropped their target price on JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $145.95.

JPMorgan Chase & Co. Trading Down 1.0 %

Shares of NYSE JPM opened at $114.21 on Tuesday. The stock has a market cap of $335.44 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 2.06 and a beta of 1.12. The business has a 50 day simple moving average of $118.19 and a 200 day simple moving average of $130.27. JPMorgan Chase & Co. has a 52 week low of $106.06 and a 52 week high of $172.96. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 0.83.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last announced its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, meeting the consensus estimate of $2.76. The business had revenue of $30.72 billion during the quarter, compared to analysts’ expectations of $31.82 billion. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.78 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 11.21 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, July 31st. Shareholders of record on Wednesday, July 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $4.00 dividend on an annualized basis and a yield of 3.50%. JPMorgan Chase & Co.’s payout ratio is currently 32.10%.

About JPMorgan Chase & Co.

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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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

Further Reading

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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