Elo Mutual Pension Insurance Co Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Elo Mutual Pension Insurance Co cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 245,553 shares of the financial services provider’s stock after selling 18,604 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.2% of Elo Mutual Pension Insurance Co’s portfolio, making the stock its 11th biggest holding. Elo Mutual Pension Insurance Co’s holdings in JPMorgan Chase & Co. were worth $49,666,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Retirement Group LLC lifted its holdings 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 during the period. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth approximately $32,000. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the first quarter worth approximately $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the second quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on JPM shares. Citigroup increased their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Barclays lifted 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. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Oppenheimer lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group boosted their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of NYSE JPM opened at $211.09 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The stock’s 50-day simple moving average is $211.61 and its 200-day simple moving average is $201.81. The firm 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 posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the previous year, the business earned $4.37 EPS. As a group, 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 business 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 dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

About JPMorgan Chase & Co.

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.