Schmidt P J Investment Management Inc. Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Schmidt P J Investment Management Inc. trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 34,866 shares of the financial services provider’s stock after selling 664 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.3% of Schmidt P J Investment Management Inc.’s holdings, making the stock its 24th biggest holding. Schmidt P J Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $7,352,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors increased its holdings in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after purchasing an additional 778,297 shares during the last quarter. Capital World Investors lifted its stake in 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 acquiring an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in JPMorgan Chase & Co. by 4.8% during the 2nd 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 acquiring an additional 1,040,594 shares during the period. Capital Research Global Investors grew its position in JPMorgan Chase & Co. by 23.3% in the 1st 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 acquiring an additional 3,252,451 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter worth about $1,888,088,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $222.31 on Monday. 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 company has a market capitalization of $638.40 billion, a P/E ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. The business has a 50 day simple moving average of $215.39 and a 200-day simple moving average of $205.52. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the business posted $4.33 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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 represents a $5.00 dividend on an annualized basis and a yield of 2.25%. 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. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on JPM shares. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada upped their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Piper Sandler lifted 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.