Thoroughbred Financial Services LLC Has $7.96 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Thoroughbred Financial Services LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPMGet Rating) by 74.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,361 shares of the financial services provider’s stock after acquiring an additional 24,865 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.3% of Thoroughbred Financial Services LLC’s investment portfolio, making the stock its 9th largest holding. Thoroughbred Financial Services LLC’s holdings in JPMorgan Chase & Co. were worth $7,955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in JPM. Desjardins Global Asset Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $13,411,000. Quest Capital Management Inc. ADV grew its stake in JPMorgan Chase & Co. by 2.3% in the fourth quarter. Quest Capital Management Inc. ADV now owns 19,362 shares of the financial services provider’s stock valued at $3,066,000 after purchasing an additional 440 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its stake in JPMorgan Chase & Co. by 4.9% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 90,113 shares of the financial services provider’s stock valued at $14,269,000 after purchasing an additional 4,214 shares during the last quarter. SignalPoint Asset Management LLC grew its stake in JPMorgan Chase & Co. by 1.2% in the fourth quarter. SignalPoint Asset Management LLC now owns 6,982 shares of the financial services provider’s stock valued at $1,105,000 after purchasing an additional 85 shares during the last quarter. Finally, Ledyard National Bank grew its stake in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Ledyard National Bank now owns 87,645 shares of the financial services provider’s stock valued at $13,878,000 after purchasing an additional 652 shares during the last quarter. 70.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on JPM shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $148.00 target price (up previously from $142.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 24th. Argus cut their target price on JPMorgan Chase & Co. from $177.00 to $155.00 in a research note on Thursday, April 14th. Berenberg Bank upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 target price on the stock in a research note on Monday, July 18th. Piper Sandler cut their target price on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Finally, Credit Suisse Group cut their target price on JPMorgan Chase & Co. from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $145.95.

JPMorgan Chase & Co. Price Performance

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

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last issued its earnings results on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, meeting analysts’ consensus estimates of $2.76. The firm had revenue of $30.72 billion for the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. JPMorgan Chase & Co.’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.78 earnings per share. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 11.21 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

JPMorgan Chase & Co. Profile

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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.

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

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