Leuthold Group LLC Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)

Leuthold Group LLC acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 30,159 shares of the financial services provider’s stock, valued at approximately $6,100,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Group LLC lifted its stake in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the second quarter worth about $32,000. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth approximately $34,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on JPM. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Jefferies Financial Group increased their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. 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 report on Thursday, September 12th. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Stock Up 0.2 %

JPM stock opened at $211.44 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The business has a 50-day simple moving average of $211.64 and a 200 day simple moving average of $201.98. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market cap of $607.19 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its 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. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $4.37 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS 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. Investors of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.36%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.