JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 67.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,858 shares of the financial services provider’s stock after purchasing an additional 121,186 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of Citizens Financial Group Inc. RI’s portfolio, making the stock its 16th biggest holding. Citizens Financial Group Inc. RI’s holdings in JPMorgan Chase & Co. were worth $60,851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Retirement Group LLC increased 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 valued at $31,000 after purchasing an additional 109 shares during the period. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at about $34,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth about $34,000. Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. in the first quarter worth about $37,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $40,000. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent research reports. Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Oppenheimer upped their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Jefferies Financial Group upped their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $210.98 on Friday. The company has a market capitalization of $605.86 billion, a PE ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50 day moving average price is $211.61 and its 200 day moving average price is $201.64. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week 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. The business had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the prior year, the business posted $4.37 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal 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 paid a dividend of $1.25 per share. 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. 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.