Prio Wealth Limited Partnership Has $79.73 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Prio Wealth Limited Partnership reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,176 shares of the financial services provider’s stock after selling 48,304 shares during the quarter. JPMorgan Chase & Co. comprises about 2.4% of Prio Wealth Limited Partnership’s portfolio, making the stock its 9th biggest position. Prio Wealth Limited Partnership’s holdings in JPMorgan Chase & Co. were worth $79,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of JPM. Capital International Ltd. CA lifted its stake in shares of JPMorgan Chase & Co. by 1.8% during the fourth quarter. Capital International Ltd. CA now owns 164,182 shares of the financial services provider’s stock valued at $27,927,000 after acquiring an additional 2,907 shares during the period. Capital International Sarl increased its position in JPMorgan Chase & Co. by 10.4% in the fourth quarter. Capital International Sarl now owns 236,374 shares of the financial services provider’s stock worth $40,207,000 after purchasing an additional 22,287 shares during the period. Amussen Hunsaker Associates LLC increased its position in JPMorgan Chase & Co. by 9.0% in the fourth quarter. Amussen Hunsaker Associates LLC now owns 3,108 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 257 shares during the period. Tower Research Capital LLC TRC lifted its position in JPMorgan Chase & Co. by 162.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 430,833 shares of the financial services provider’s stock valued at $73,285,000 after purchasing an additional 266,492 shares during the period. Finally, Morningstar Investment Management LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $3,053,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of several analyst reports. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. 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 note on Monday, July 15th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a research report on Monday. Finally, Piper Sandler increased their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and ten have assigned 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 an average target price of $211.31.

JPMorgan Chase & Co. Stock Down 1.8 %

JPMorgan Chase & Co. stock opened at $207.04 on Wednesday. The company has a 50 day moving average of $211.42 and a 200-day moving average of $202.85. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The stock has a market capitalization of $594.55 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.