Grassi Investment Management Sells 844 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Grassi Investment Management decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,458 shares of the financial services provider’s stock after selling 844 shares during the quarter. JPMorgan Chase & Co. makes up about 1.9% of Grassi Investment Management’s holdings, making the stock its 11th biggest position. Grassi Investment Management’s holdings in JPMorgan Chase & Co. were worth $22,448,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JPM. Retirement Group LLC boosted its position 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 purchasing an additional 109 shares during the period. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $34,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $34,000. Finally, Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.2 %

Shares of NYSE JPM opened at $222.31 on Friday. The business has a fifty day moving average of $215.39 and a two-hundred day moving average of $205.45. 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 52-week low of $135.19 and a 52-week high of $225.92. The stock has a market cap of $638.40 billion, a PE ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.33 earnings per share. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm 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 dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change 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 2.25%. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Piper Sandler raised their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.94.

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.