Saxon Interests Inc. Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Saxon Interests Inc. lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,620 shares of the financial services provider’s stock after selling 229 shares during the quarter. JPMorgan Chase & Co. comprises 0.9% of Saxon Interests Inc.’s holdings, making the stock its 27th largest position. Saxon Interests Inc.’s holdings in JPMorgan Chase & Co. were worth $2,028,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Capital International Investors boosted its stake in JPMorgan Chase & Co. by 1.9% during the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after purchasing an additional 778,297 shares during the last quarter. Capital World Investors boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after purchasing an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in JPMorgan Chase & Co. by 4.0% during the fourth quarter. Fisher Asset Management LLC now owns 11,836,898 shares of the financial services provider’s stock worth $2,013,457,000 after buying an additional 450,098 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JPM. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $212.13.

JPMorgan Chase & Co. Stock Up 0.8 %

Shares of JPM stock traded up $1.74 on Wednesday, reaching $212.49. 1,433,696 shares of the stock were exchanged, compared to its average volume of 9,079,995. The company has a market capitalization of $610.20 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.39 and a beta of 1.11. The business’s 50 day moving average price is $211.21 and its 200 day moving average price is $203.32. The company has a current ratio of 0.91, a quick 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.

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 (EPS) 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 period in the prior year, the firm posted $4.37 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 16.72 earnings per share 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 given a $1.25 dividend. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.35%. JPMorgan Chase & Co.’s payout ratio is 27.89%.

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.