Miller Howard Investments Inc. NY Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Miller Howard Investments Inc. NY decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 11.4% in the second quarter, Holdings Channel reports. The institutional investor owned 362,781 shares of the financial services provider’s stock after selling 46,804 shares during the period. JPMorgan Chase & Co. accounts for about 1.7% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 28th largest position. Miller Howard Investments Inc. NY’s holdings in JPMorgan Chase & Co. were worth $34,123,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Capital World Investors grew its position in shares of JPMorgan Chase & Co. by 9.9% during the 1st quarter. Capital World Investors now owns 91,033,221 shares of the financial services provider’s stock valued at $8,195,754,000 after acquiring an additional 8,187,609 shares during the period. Geode Capital Management LLC grew its position in shares of JPMorgan Chase & Co. by 1.5% during the first quarter. Geode Capital Management LLC now owns 45,078,060 shares of the financial services provider’s stock worth $4,050,836,000 after acquiring an additional 666,292 shares during the last quarter. Morgan Stanley grew its position in shares of JPMorgan Chase & Co. by 6.4% during the first quarter. Morgan Stanley now owns 37,812,884 shares of the financial services provider’s stock worth $3,404,295,000 after acquiring an additional 2,262,845 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of JPMorgan Chase & Co. by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 31,592,855 shares of the financial services provider’s stock worth $2,844,306,000 after acquiring an additional 175,979 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of JPMorgan Chase & Co. by 2.2% during the first quarter. Legal & General Group Plc now owns 19,233,532 shares of the financial services provider’s stock worth $1,735,777,000 after acquiring an additional 409,477 shares during the last quarter. Institutional investors and hedge funds own 71.35% of the company’s stock.

In related news, CEO Mary E. Erdoes sold 24,554 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $99.52, for a total transaction of $2,443,614.08. Insiders own 0.78% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of JPMorgan Chase & Co. from $149.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 3rd. Societe Generale upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “buy” rating in a research report on Tuesday, April 14th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $113.00 price objective on the stock in a research report on Thursday, July 9th. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $82.00 to $96.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Goldman Sachs Group upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. JPMorgan Chase & Co. presently has an average rating of “Buy” and a consensus target price of $110.89.

Shares of JPM opened at $96.64 on Friday. The firm has a market cap of $295.62 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 3.25 and a beta of 1.19. The company’s fifty day moving average is $96.77 and its two-hundred day moving average is $105.48. JPMorgan Chase & Co. has a fifty-two week low of $76.91 and a fifty-two week high of $141.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.35.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.04. The company had revenue of $32.98 billion for the quarter, compared to analyst estimates of $30.23 billion. JPMorgan Chase & Co. had a net margin of 18.16% and a return on equity of 10.75%. JPMorgan Chase & Co.’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the business earned $2.82 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 5.96 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were issued a $0.90 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.73%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.

JPMorgan Chase & Co. Company Profile

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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