Sara Bay Financial lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,815 shares of the financial services provider’s stock after selling 327 shares during the period. JPMorgan Chase & Co. comprises 3.5% of Sara Bay Financial’s holdings, making the stock its 7th largest holding. Sara Bay Financial’s holdings in JPMorgan Chase & Co. were worth $7,305,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dravo Bay LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $26,000. Advanced Research Investment Solutions LLC boosted its position in shares of JPMorgan Chase & Co. by 118.2% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 156 shares in the last quarter. Swaine & Leidel Wealth Services LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $44,000. Landmark Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $46,000. Finally, Cordant Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $47,000. Institutional investors and hedge funds own 68.57% of the company’s stock.
Analysts Set New Price Targets
JPM has been the topic of several analyst reports. Morgan Stanley reduced their price target on shares of JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 12th. Credit Suisse Group set a $145.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, August 8th. Piper Sandler dropped their price objective on shares of 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. Oppenheimer dropped their price objective on shares of JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating for the company in a research note on Friday, July 15th. Finally, Evercore ISI dropped their price objective on shares of JPMorgan Chase & Co. from $135.00 to $125.00 in a research note on Friday, July 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $145.95.
JPMorgan Chase & Co. Trading Down 2.9 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data 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 business had revenue of $30.72 billion for the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.78 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 11.32 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.56%. JPMorgan Chase & Co.’s dividend payout ratio is currently 32.10%.
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 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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