IFM Investors Pty Ltd Has $121.95 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

IFM Investors Pty Ltd cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 578,345 shares of the financial services provider’s stock after selling 2,615 shares during the period. JPMorgan Chase & Co. comprises approximately 1.2% of IFM Investors Pty Ltd’s holdings, making the stock its 11th largest holding. IFM Investors Pty Ltd’s holdings in JPMorgan Chase & Co. were worth $121,950,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JPM. Retirement Group LLC boosted its position in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 1.2 %

NYSE:JPM opened at $222.31 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.92. The firm has a market capitalization of $638.40 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. The business’s 50-day moving average price is $215.39 and its two-hundred day moving average price is $205.45.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.33 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Citigroup lifted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Oppenheimer decreased their price target on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

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.