Edgewood Management LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.1% during the third quarter, Holdings Channel.com reports. The fund owned 20,158 shares of the financial services provider’s stock after selling 1,306 shares during the quarter. Edgewood Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,251,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. WFA Asset Management Corp raised its stake in shares of JPMorgan Chase & Co. by 51.2% in the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 412 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $1,185,000. Ascent Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.4% during the first quarter. Ascent Group LLC now owns 48,564 shares of the financial services provider’s stock worth $9,727,000 after purchasing an additional 1,132 shares in the last quarter. Lavaca Capital LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter worth about $202,000. Finally, Zurich Insurance Group Ltd FI boosted its position in shares of JPMorgan Chase & Co. by 90.9% in the first quarter. Zurich Insurance Group Ltd FI now owns 1,103,098 shares of the financial services provider’s stock worth $220,951,000 after buying an additional 525,383 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently commented on JPM. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Robert W. Baird cut 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Daiwa Capital Markets lowered their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $229.31.
JPMorgan Chase & Co. Price Performance
Shares of NYSE JPM opened at $250.29 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $704.65 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $152.71 and a twelve month high of $254.31. The business has a 50 day simple moving average of $223.99 and a 200-day simple moving average of $212.38.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the firm earned $4.33 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. 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. This represents a $5.00 annualized dividend and a yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio is 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.
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