JPMorgan Chase & Co. (NYSE:JPM) Stake Cut by Legal & General Group Plc

Legal & General Group Plc lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,873,857 shares of the financial services provider’s stock after selling 484,484 shares during the quarter. JPMorgan Chase & Co. comprises about 1.1% of Legal & General Group Plc’s investment portfolio, making the stock its 10th biggest position. Legal & General Group Plc owned about 0.83% of JPMorgan Chase & Co. worth $4,828,740,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Retirement Group LLC lifted its stake 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 purchasing an additional 109 shares during the period. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter worth about $32,000. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $34,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Finally, Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. 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. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Price Performance

JPM opened at $210.40 on Friday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The firm has a market cap of $598.62 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.39 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $211.47 and a 200 day simple moving average of $202.41.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates 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 company earned $4.37 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. 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. JPMorgan Chase & Co.’s payout ratio is 25.66%.

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.