Mutual of America Capital Management LLC Sells 5,180 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Mutual of America Capital Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 392,516 shares of the financial services provider’s stock after selling 5,180 shares during the quarter. JPMorgan Chase & Co. accounts for 0.9% of Mutual of America Capital Management LLC’s holdings, making the stock its 12th biggest position. Mutual of America Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $79,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Retirement Group LLC lifted its holdings in JPMorgan Chase & Co. by 227.1% during the first 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. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $34,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $211.09 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. The company’s fifty day simple moving average is $211.61 and its 200 day simple moving average is $201.73. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The company has a market cap of $606.18 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period in the previous year, the business earned $4.37 EPS. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Analyst Upgrades and Downgrades

JPM has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Morgan Stanley reduced their target price on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Barclays lifted their price target 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. Oppenheimer upped their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Evercore ISI lifted their target price 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. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $211.06.

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.