Pzena Investment Management LLC Sells 76,182 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Pzena Investment Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 884,350 shares of the financial services provider’s stock after selling 76,182 shares during the quarter. Pzena Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $186,474,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $1,888,088,000. Swedbank AB acquired a new position in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $800,130,000. Wulff Hansen & CO. increased its stake in shares of 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 purchasing an additional 2,787,510 shares during the period. Granite Bay Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 6,239.1% during 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 purchasing an additional 1,396,194 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.5 %

Shares of NYSE:JPM opened at $248.55 on Monday. JPMorgan Chase & Co. has a 52-week low of $152.71 and a 52-week high of $249.15. The company has a market capitalization of $699.75 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company has a fifty day moving average of $223.14 and a 200-day moving average of $212.01.

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

JPMorgan Chase & Co. Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on JPM. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Barclays upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research report on Thursday, November 7th. Finally, Daiwa Capital Markets dropped their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average target price of $229.31.

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, 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.