DAVENPORT & Co LLC has made adjustments to its investment portfolio, reducing its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the third quarter. Following this change, the firm now owns 579,211 shares of the financial giant after selling off 7,303 shares, which positions JPMorgan Chase as approximately 1.0% of DAVENPORT & Co LLC’s total portfolio, making it their 17th largest investment. The current valuation of these holdings stands at around $182.71 million, as per the most recent filing with the Securities and Exchange Commission.
Recent activities from other significant investors reveal a trend of increasing interest in JPMorgan Chase. For instance, Harbor Asset Planning Inc. recently established a new position in the company valued at around $26,000 during the second quarter. Mizuho Securities Co. Ltd. expanded its stake by 450%, now owning 110 shares worth about $32,000 after adding 90 shares in the last quarter. Family Legacy Financial Solutions LLC has also increased its investment by 92.6%, bringing its total to 104 shares valued at approximately $33,000. Other notable changes include Ryan Investment Management Inc. acquiring a new position valued around $37,000, and Christopher J. Hasenberg Inc. enhancing its investment by 212%, now holding 156 shares worth roughly $45,000. Together, hedge funds and institutional investors own approximately 71.55% of JPMorgan Chase’s stock.
In latest trading activity, shares of JPMorgan Chase opened at $327.82. The stock has shown solid technical performance with a 50-day moving average of $310.27 and a 200-day moving average of $300.81. With a market cap of $892.40 billion, the company has demonstrated strong profitability metrics, reporting a net margin of 20.90% and a return on equity of 17.18%. Recently, JPMorgan Chase reported earnings of $5.07 per share for the quarter ending October 14th, surpassing expectations. Its revenue of $47.12 billion for the quarter also exceeded estimates, indicating robust growth of 8.8% year-over-year.
Looking ahead, JPMorgan Chase & Co. has declared a quarterly dividend of $1.50, to be paid on January 31st to shareholders of record on January 6th. This equates to an annualized dividend of $6.00, presenting a yield of 1.8%, with a payout ratio of 29.72%.
In terms of market perceptions, analysts have been actively adjusting their outlook on JPMorgan Chase’s stock. Barclays recently revised their target price from $330.00 to $342.00, suggesting confidence in the firm’s growth trajectory. Despite some fluctuations, the average target price set by analysts stands at $329.19. Morgan Stanley and Goldman Sachs have also provided targets in the range of $331.00 to $354.00. Overall, the stock maintains a blend of Buy, Hold, and Sell ratings, reflecting a cautious yet optimistic outlook from the research community.
As a leading financial services firm, JPMorgan Chase continues to adapt to the evolving economic landscape, reaffirming its position as a key player in the global financial market. The company’s diverse portfolio and strong financial metrics suggest a stable path forward, encouraging investor confidence and sustained interest.