Thrivent Financial for Lutherans Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Thrivent Financial for Lutherans trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,692,532 shares of the financial services provider’s stock after selling 156,935 shares during the period. JPMorgan Chase & Co. comprises approximately 0.7% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 10th biggest position. Thrivent Financial for Lutherans owned approximately 0.06% of JPMorgan Chase & Co. worth $342,331,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Sei Investments Co. increased its stake in JPMorgan Chase & Co. by 1.7% in the 2nd quarter. Sei Investments Co. now owns 772,583 shares of the financial services provider’s stock worth $156,261,000 after purchasing an additional 12,633 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.9% in the second quarter. Garden State Investment Advisory Services LLC now owns 4,093 shares of the financial services provider’s stock worth $830,000 after buying an additional 191 shares during the period. Pacer Advisors Inc. increased its position in shares of JPMorgan Chase & Co. by 3.2% in the second quarter. Pacer Advisors Inc. now owns 238,357 shares of the financial services provider’s stock worth $48,210,000 after acquiring an additional 7,324 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of JPMorgan Chase & Co. by 44.2% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,224,911 shares of the financial services provider’s stock valued at $247,726,000 after acquiring an additional 375,378 shares during the period. Finally, Ranch Capital Advisors Inc. lifted its position in shares of JPMorgan Chase & Co. by 5.3% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 14,044 shares of the financial services provider’s stock valued at $2,840,000 after acquiring an additional 704 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Jefferies Financial Group raised their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Oppenheimer raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $211.70 on Wednesday. The stock has a market capitalization of $607.92 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.33 and a beta of 1.12. The business has a 50-day moving average of $211.60 and a two-hundred day moving average of $202.14. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. 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. (NYSE:JPM) last posted its earnings results 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 return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same period in the previous year, the company earned $4.37 EPS. On average, equities research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

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.