Allen Investment Management LLC Sells 627 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Allen Investment Management LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 169,431 shares of the financial services provider’s stock after selling 627 shares during the period. Allen Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $34,269,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Retirement Group LLC grew its holdings in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the last quarter. Richardson Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth about $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $37,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $40,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $207.60 on Thursday. The stock has a market cap of $596.16 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The firm has a fifty day moving average price of $211.43 and a 200-day moving average price of $201.40. 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 quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the prior year, the business posted $4.37 EPS. Equities analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.41%. 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 dividend payout ratio (DPR) is 25.66%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets raised their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Morgan Stanley dropped their target price on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $211.06.

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.