Absolute Gestao de Investimentos Ltda. Takes $303,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Absolute Gestao de Investimentos Ltda. acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,500 shares of the financial services provider’s stock, valued at approximately $303,000. JPMorgan Chase & Co. comprises 0.2% of Absolute Gestao de Investimentos Ltda.’s investment portfolio, making the stock its 23rd biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Retirement Group LLC raised 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 worth $31,000 after purchasing an additional 109 shares during the period. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth $32,000. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter worth $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter worth $34,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. in the first quarter valued at $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Jefferies Financial Group upped their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Oppenheimer lifted their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Citigroup increased their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.06.

JPMorgan Chase & Co. Stock Down 0.2 %

NYSE JPM opened at $209.78 on Friday. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The company has a market capitalization of $596.86 billion, a P/E ratio of 11.70, a PEG ratio of 2.39 and a beta of 1.12. The company’s 50 day simple moving average is $211.47 and its 200 day simple moving average is $202.20. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the firm earned $4.37 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

JPMorgan Chase & Co. Company 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.