Fisher Funds Management LTD Reduces Stock Position in JPMorgan Chase & Co. $JPM

Fisher Funds Management LTD reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.0% in the second quarter, Holdings Channel.com reports. The fund owned 144,193 shares of the financial services provider’s stock after selling 7,662 shares during the period. JPMorgan Chase & Co. makes up approximately 1.0% of Fisher Funds Management LTD’s portfolio, making the stock its 29th biggest position. Fisher Funds Management LTD’s holdings in JPMorgan Chase & Co. were worth $41,803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its position in shares of JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after buying an additional 72,885,260 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after acquiring an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after acquiring an additional 890,553 shares in the last quarter. Nuveen LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $3,972,807,000. Finally, Invesco Ltd. increased its holdings in JPMorgan Chase & Co. by 4.1% during the 1st quarter. Invesco Ltd. now owns 13,754,558 shares of the financial services provider’s stock worth $3,373,993,000 after acquiring an additional 547,110 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. UBS Group upped their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, October 15th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, TD Cowen upped their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $326.38.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $316.69 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $319.56. The company has a fifty day moving average of $306.48 and a 200-day moving average of $288.11. The stock has a market capitalization of $862.11 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period in the previous year, the firm posted $4.37 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.