SPX Gestao de Recursos Ltda Sells 5,089 Shares of JPMorgan Chase & Co. (NYSE:JPM)

SPX Gestao de Recursos Ltda trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,289 shares of the financial services provider’s stock after selling 5,089 shares during the period. JPMorgan Chase & Co. makes up about 1.5% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 16th biggest position. SPX Gestao de Recursos Ltda’s holdings in JPMorgan Chase & Co. were worth $10,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. Retirement Group LLC lifted its position in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at $32,000. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $34,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $34,000. Finally, Davidson Capital Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.1 %

JPM opened at $210.79 on Tuesday. 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 $605.32 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The stock has a fifty day moving average price of $211.48 and a 200-day moving average price of $202.73.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 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 the consensus estimate of $42.23 billion. During the same period in the previous year, the company posted $4.37 earnings per share. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $220.00 to $224.00 in a report on Monday. BMO Capital Markets raised their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Oppenheimer increased their target price on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group lifted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.31.

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.