Eagle Asset Management Inc. Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Eagle Asset Management Inc. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,072,548 shares of the financial services provider’s stock after selling 36,920 shares during the period. JPMorgan Chase & Co. comprises 1.2% of Eagle Asset Management Inc.’s portfolio, making the stock its 6th biggest position. Eagle Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $226,157,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Accredited Investors Inc. lifted its stake in JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after acquiring an additional 667 shares during the period. Sunburst Financial Group LLC increased its position in JPMorgan Chase & Co. by 5.0% during the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after purchasing an additional 268 shares during the period. Sageworth Trust Co lifted its position in shares of JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 786 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of JPMorgan Chase & Co. by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after purchasing an additional 95,461 shares during the period. Finally, Czech National Bank boosted its stake in shares of JPMorgan Chase & Co. by 7.6% during the second quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock valued at $110,682,000 after purchasing an additional 38,548 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on JPM. Royal Bank of Canada upped their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Citigroup increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Finally, Barclays increased their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Trading Up 0.7 %

Shares of NYSE:JPM opened at $250.29 on Tuesday. 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. has a 52-week low of $152.71 and a 52-week high of $254.31. The stock has a market cap of $704.65 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 3.61 and a beta of 1.10. The business has a 50-day moving average price of $223.99 and a 200-day moving average price of $212.38.

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

JPMorgan Chase & Co. Increases Dividend

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

JPMorgan Chase & Co. 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.