Envestnet Asset Management Inc. Increases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Envestnet Asset Management Inc. raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,286,705 shares of the financial services provider’s stock after buying an additional 157,577 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.25% of JPMorgan Chase & Co. worth $1,473,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JPM. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $6,016,878,000. Swedbank AB purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $800,130,000. Capital Research Global Investors increased its holdings in shares of JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares during the last quarter. Capital International Investors raised its position in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after buying an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in JPMorgan Chase & Co. by 3,836.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after acquiring an additional 1,480,379 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Jefferies Financial Group upped their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $207.60 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $596.16 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The stock’s 50-day moving average is $211.43 and its two-hundred day moving average is $201.40. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period in the prior year, the firm earned $4.37 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed 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 is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 25.66%.

JPMorgan Chase & Co. 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.