Taurus Asset Management LLC Sells 38,354 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Taurus Asset Management LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,619 shares of the financial services provider’s stock after selling 38,354 shares during the period. JPMorgan Chase & Co. accounts for approximately 4.3% of Taurus Asset Management LLC’s portfolio, making the stock its 5th largest position. Taurus Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $42,195,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of JPM. Retirement Group LLC boosted 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 acquiring an additional 109 shares in the last quarter. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $37,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on JPM. Oppenheimer lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Evercore ISI raised their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Barclays boosted their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Morgan Stanley cut their target price on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Trading Up 1.4 %

Shares of JPM stock opened at $210.48 on Friday. The business’s fifty day moving average price is $211.49 and its 200 day moving average price is $201.47. The firm has a market capitalization of $604.43 billion, a PE ratio of 11.74, a P/E/G ratio of 2.33 and a beta of 1.12. 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. has a 1-year low of $135.19 and a 1-year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly 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 business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same period in the prior year, the company posted $4.37 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.78 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 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 2.38%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 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.