JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 578,829 shares of the financial services provider’s stock after selling 18,472 shares during the quarter. JPMorgan Chase & Co. accounts for 1.0% of Amalgamated Bank’s investment portfolio, making the stock its 12th largest position. Amalgamated Bank’s holdings in JPMorgan Chase & Co. were worth $117,074,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Retirement Group LLC increased its holdings in JPMorgan Chase & Co. by 227.1% in 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. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $32,000. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Finally, Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $211.09 on Monday. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. 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 stock has a market cap of $606.18 billion, a PE ratio of 11.77, a P/E/G ratio of 2.33 and a beta of 1.12. The stock has a 50 day moving average price of $211.61 and a 200 day moving average price of $201.81.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results 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 during the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned $4.37 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced 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 is a boost 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 (DPR) is 25.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on JPM shares. Evercore ISI boosted their price objective 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 target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Piper Sandler lifted their target price 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. Finally, StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

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.