Charles Schwab Investment Management Inc. Sells 182,322 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Charles Schwab Investment Management Inc. reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,031,941 shares of the financial services provider’s stock after selling 182,322 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Charles Schwab Investment Management Inc.’s holdings, making the stock its 23rd biggest position. Charles Schwab Investment Management Inc. owned about 0.71% of JPMorgan Chase & Co. worth $4,223,885,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Henrickson Nauta Wealth Advisors Inc. grew its position in shares of JPMorgan Chase & Co. by 1.3% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares during the last quarter. Sunburst Financial Group LLC boosted its stake in JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 45 shares during the period. West Wealth Group LLC grew its holdings in JPMorgan Chase & Co. by 3.6% in the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after buying an additional 46 shares during the last quarter. Delta Financial Advisors LLC increased its position in JPMorgan Chase & Co. by 0.3% in the 3rd quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock worth $3,272,000 after buying an additional 46 shares during the period. Finally, Instrumental Wealth LLC lifted its holdings in shares of JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after buying an additional 47 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on JPM shares. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Trading Up 0.7 %

Shares of JPMorgan Chase & Co. stock opened at $250.29 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $152.71 and a 12-month high of $254.31. The stock has a market capitalization of $704.65 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. The company has a 50-day simple moving average of $223.99 and a 200 day simple moving average of $212.38. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $4.33 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

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.