Grassi Investment Management Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Grassi Investment Management cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,456 shares of the financial services provider’s stock after selling 847 shares during the period. JPMorgan Chase & Co. accounts for about 1.6% of Grassi Investment Management’s holdings, making the stock its 19th biggest position. Grassi Investment Management’s holdings in JPMorgan Chase & Co. were worth $12,326,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of JPM. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 10,278 shares of the financial services provider’s stock valued at $1,628,000 after acquiring an additional 140 shares during the period. Rowland & Co. Investment Counsel ADV lifted its holdings in JPMorgan Chase & Co. by 36.2% in the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 20,802 shares of the financial services provider’s stock valued at $3,294,000 after acquiring an additional 5,527 shares during the period. Summit Global Investments lifted its holdings in JPMorgan Chase & Co. by 60.5% in the fourth quarter. Summit Global Investments now owns 57,765 shares of the financial services provider’s stock valued at $9,147,000 after acquiring an additional 21,764 shares during the period. Aureus Asset Management LLC lifted its holdings in JPMorgan Chase & Co. by 2.0% in the fourth quarter. Aureus Asset Management LLC now owns 31,690 shares of the financial services provider’s stock valued at $5,018,000 after acquiring an additional 614 shares during the period. Finally, Mmbg Investment Advisors CO. acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $31,814,000. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JPM shares. Berenberg Bank raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 price target for the company in a research note on Monday, July 18th. Citigroup raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and cut their price target for the stock from $145.00 to $135.00 in a research note on Tuesday, July 12th. UBS Group cut their price target on JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, July 15th. Royal Bank of Canada set a $130.00 price target on JPMorgan Chase & Co. in a research note on Tuesday, September 6th. Finally, Piper Sandler cut their price target on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus target price of $145.95.

JPMorgan Chase & Co. Stock Down 2.9 %

Shares of NYSE:JPM opened at $112.49 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.83 and a current ratio of 0.83. JPMorgan Chase & Co. has a 1 year low of $106.06 and a 1 year high of $172.96. The stock has a market capitalization of $329.89 billion, a P/E ratio of 9.03, a PEG ratio of 2.09 and a beta of 1.10. The stock has a 50-day simple moving average of $116.03 and a 200-day simple moving average of $122.29.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last issued its earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.09). The firm had revenue of $30.72 billion for 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 revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.78 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post 11.32 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Thursday, October 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.56%. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.

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

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