Thrivent Financial for Lutherans sells 156,935 shares of JPMorgan Chase & Co. (NYSE:JPM)

Thrivent Financial for Lutherans trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,692,532 shares of the financial services provider’s stock after selling 156,935 shares during the quarter. JPMorgan Chase & Co. comprises 0.7% of Thrivent Financial for Lutherans’ investment portfolio, making it its 10th largest holding. Thrivent Financial for Lutherans’ holdings in JPMorgan Chase & Co. were worth $342,331,000 as of its most recent SEC filing.

Several other hedge funds have recently modified their holdings of JPM. Retirement Group LLC increased 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 acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter, valued at $32,000. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. in the first quarter, worth $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter worth $34,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. in the first quarter, valued at $37,000. 71.55% of shares are held by institutional investors.

The Wall Street analyst weighs in

A number of equities analysts have recently commented on JPM shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Jefferies Financial Group raised their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Citigroup raised its price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Evercore ISI boosted their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Moderate Buy” and an average price target of $211.06, according to MarketBeat .

Get the latest stock report on JPMorgan Chase & Co.

The stock performance of JPMorgan Chase & Co

Shares of JPM stock opened at $211.70 on Wednesday. The company has a 50-day moving average price of $211.60 and a 200-day moving average price of $202.14. JPMorgan Chase & Co. it has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91, and a quick ratio of 0.91. The stock has a market cap of $607.92 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM – Get Your Free Report ) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. In the same quarter last year, the company posted earnings per share of $4.37. Analysts estimate that JPMorgan Chase & Co. will record 16.78 EPS for the current year.

JPMorgan Chase & Co. increase dividends

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. This represents an annualized dividend of $5.00 and a dividend yield of 2.36%. The ex-dividend date is Friday, October 4. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend. of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR). is 27.89%.

About JPMorgan Chase & Co.

(Free Report)

JPMorgan Chase & Co. operates as a global financial services company. 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, leasing and travel services for consumers and small businesses through bank branches, ATMs and digital and phone banking.

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