Means Investment CO. Inc. Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Means Investment CO. Inc. reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,049 shares of the financial services provider’s stock after selling 596 shares during the period. JPMorgan Chase & Co. comprises approximately 1.9% of Means Investment CO. Inc.’s portfolio, making the stock its 12th largest position. Means Investment CO. Inc.’s holdings in JPMorgan Chase & Co. were worth $17,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. Retirement Group LLC raised its holdings in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth $32,000. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on JPM. Citigroup raised their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Daiwa Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Nine 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Stock Down 0.9 %

JPMorgan Chase & Co. stock opened at $223.23 on Tuesday. The stock’s 50 day moving average price is $214.37 and its 200 day moving average price is $204.77. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.92. The company has a market cap of $641.04 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. 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 issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.33 EPS. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

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.