MBB Public Markets I LLC Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

MBB Public Markets I LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 206.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,764 shares of the financial services provider’s stock after buying an additional 175,698 shares during the quarter. JPMorgan Chase & Co. comprises about 1.1% of MBB Public Markets I LLC’s holdings, making the stock its 15th largest position. MBB Public Markets I LLC’s holdings in JPMorgan Chase & Co. were worth $52,742,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new position in JPMorgan Chase & Co. in the 2nd quarter worth approximately $780,000. Daymark Wealth Partners LLC raised its position in shares of JPMorgan Chase & Co. by 2.9% during the 2nd quarter. Daymark Wealth Partners LLC now owns 350,003 shares of the financial services provider’s stock valued at $70,792,000 after buying an additional 9,997 shares in the last quarter. Drucker Wealth 3.0 LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $7,732,000. Employees Retirement System of Texas grew its position in JPMorgan Chase & Co. by 2.9% in the second quarter. Employees Retirement System of Texas now owns 796,471 shares of the financial services provider’s stock worth $161,094,000 after acquiring an additional 22,101 shares in the last quarter. Finally, APG Asset Management N.V. increased its stake in JPMorgan Chase & Co. by 1.6% in the second quarter. APG Asset Management N.V. now owns 4,097,648 shares of the financial services provider’s stock valued at $773,306,000 after acquiring an additional 65,773 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $210.40 on Friday. 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 firm has a market cap of $598.62 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The firm has a 50-day moving average of $211.47 and a 200-day moving average of $202.41.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data 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 business had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter last year, the business posted $4.37 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 16.72 EPS for the current 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 issued a $1.25 dividend. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.38%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Analysts Set New Price Targets

JPM has been the subject of several research analyst reports. Barclays lifted their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. BMO Capital Markets increased their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Jefferies Financial Group boosted their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Oppenheimer increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently 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.