Hunter Perkins Capital Management LLC Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Hunter Perkins Capital Management LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,469 shares of the financial services provider’s stock after selling 773 shares during the period. Hunter Perkins Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $5,160,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Retirement Group LLC grew its holdings 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 valued at $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $32,000. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. Finally, Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on JPM shares. Daiwa Capital Markets lowered their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Jefferies Financial Group raised their price target 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. Royal Bank of Canada upped their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday. BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Stock Up 0.6 %

Shares of NYSE JPM opened at $223.64 on Thursday. The stock has a market capitalization of $642.22 billion, a PE ratio of 12.47, a P/E/G ratio of 3.28 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a fifty day moving average of $213.22 and a 200-day moving average of $204.17. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share 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 analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.33 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current 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 issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 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.