JPMorgan Chase & Co. (NYSE:JPM) is Somerset Trust Co’s 4th Largest Position

Somerset Trust Co lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 36,599 shares of the financial services provider’s stock after selling 804 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.9% of Somerset Trust Co’s holdings, making the stock its 4th biggest position. Somerset Trust Co’s holdings in JPMorgan Chase & Co. were worth $7,717,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Retirement Group LLC increased its stake in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup upped their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Barclays upped their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Piper Sandler upped their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.13.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $213.41 on Thursday. The business’s 50-day moving average is $211.21 and its two-hundred day moving average is $203.32. The company has a market capitalization of $612.84 billion, a P/E ratio of 11.90, a P/E/G ratio of 2.39 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results 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. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period last year, the firm earned $4.37 EPS. Research analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share 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. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.34%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 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.