JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 134,278 shares of the financial services provider’s stock after selling 1,027 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.4% of Moors & Cabot Inc.’s holdings, making the stock its 6th largest holding. Moors & Cabot Inc.’s holdings in JPMorgan Chase & Co. were worth $27,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Excalibur Management Corp boosted its holdings in shares of JPMorgan Chase & Co. by 0.5% in the 2nd quarter. Excalibur Management Corp now owns 36,254 shares of the financial services provider’s stock valued at $7,333,000 after purchasing an additional 178 shares during the last quarter. Lmcg Investments LLC raised its position in shares of JPMorgan Chase & Co. by 0.8% in the 2nd quarter. Lmcg Investments LLC now owns 192,642 shares of the financial services provider’s stock worth $38,964,000 after buying an additional 1,547 shares during the period. Luts & Greenleigh Group Inc. acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $918,000. Wulff Hansen & CO. grew its position in JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after acquiring an additional 2,787,510 shares during the period. Finally, Citizens Financial Group Inc. RI increased its stake in JPMorgan Chase & Co. by 67.4% during the second quarter. Citizens Financial Group Inc. RI now owns 300,858 shares of the financial services provider’s stock worth $60,851,000 after acquiring an additional 121,186 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $210.98 on Friday. The stock’s 50 day moving average is $211.61 and its two-hundred day moving average is $201.64. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The company has a market capitalization of $605.86 billion, a PE ratio of 11.77, a P/E/G ratio of 2.33 and a beta of 1.12. 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. (NYSE:JPM) last issued its quarterly 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. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the previous year, the firm earned $4.37 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 16.78 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. 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. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on JPM shares. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Morgan Stanley decreased their price objective on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Jefferies Financial Group lifted their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, 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 report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

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.