JPMorgan Chase & Co. (NYSE:JPM) Stake Decreased by Investment Management Corp of Ontario

Investment Management Corp of Ontario reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 27.2% in the third quarter, HoldingsChannel reports. The firm owned 400,225 shares of the financial services provider’s stock after selling 149,238 shares during the quarter. JPMorgan Chase & Co. makes up 1.9% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 9th largest position. Investment Management Corp of Ontario’s holdings in JPMorgan Chase & Co. were worth $84,391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of JPMorgan Chase & Co. by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares during the last quarter. Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 31.7% during the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of JPMorgan Chase & Co. by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after buying an additional 302,592 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $1,888,088,000. Finally, Sanders Capital LLC increased its holdings in JPMorgan Chase & Co. by 0.6% in the third quarter. Sanders Capital LLC now owns 8,194,767 shares of the financial services provider’s stock valued at $1,727,949,000 after buying an additional 49,695 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 1.4 %

Shares of JPM opened at $246.25 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $155.88 and a 12 month high of $254.31. 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 stock’s 50-day moving average price is $227.21 and its two-hundred day moving average price is $213.78. The company has a market capitalization of $693.28 billion, a PE ratio of 13.70, a PEG ratio of 3.62 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings data 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. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.33 EPS. On average, analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JPM shares. Daiwa Capital Markets dropped their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada upped their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $232.00.

Get Our Latest Research Report on JPMorgan Chase & Co.

About JPMorgan Chase & Co.

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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