JPMorgan Chase & Co. (NYSE:JPM) Stock Position Lessened by Mittelman Wealth Management

Mittelman Wealth Management lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,737 shares of the financial services provider’s stock after selling 140 shares during the quarter. JPMorgan Chase & Co. comprises about 1.1% of Mittelman Wealth Management’s portfolio, making the stock its 21st biggest holding. Mittelman Wealth Management’s holdings in JPMorgan Chase & Co. were worth $1,767,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Retirement Group LLC raised its stake in shares of 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 buying an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at about $32,000. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $34,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the second quarter worth about $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $211.09 on Monday. 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 one year low of $135.19 and a one year high of $225.48. The business’s 50-day moving average price is $211.61 and its two-hundred day moving average price is $201.81. The company has a market capitalization of $606.18 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the previous year, the business posted $4.37 EPS. Analysts anticipate 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 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. 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 dividend yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

Analyst Ratings Changes

JPM has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. BMO Capital Markets lifted their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Citigroup upped their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Barclays boosted their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target 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.