Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Connor Clark & Lunn Investment Management Ltd. lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 58.3% during the third quarter, HoldingsChannel.com reports. The fund owned 234,686 shares of the financial services provider’s stock after selling 327,666 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in JPMorgan Chase & Co. were worth $49,486,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of JPM. International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $1,888,088,000. Swedbank AB purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $800,130,000. Capital Research Global Investors grew its holdings in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after buying an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. increased its position in JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after buying an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 6,239.1% in the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after acquiring an additional 1,396,194 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $248.55 on Friday. The firm has a fifty day moving average of $223.14 and a 200-day moving average of $211.90. JPMorgan Chase & Co. has a 52-week low of $152.71 and a 52-week high of $249.15. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $699.75 billion, a P/E ratio of 13.83, a PEG ratio of 3.55 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.33 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Evercore ISI boosted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $229.31.

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.