abrdn plc Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

abrdn plc reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,207,524 shares of the financial services provider’s stock after selling 15,659 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.8% of abrdn plc’s holdings, making the stock its 16th largest holding. abrdn plc’s holdings in JPMorgan Chase & Co. were worth $462,587,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $1,888,088,000. Swedbank AB purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $800,130,000. Capital Research Global Investors lifted its stake in shares of JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in shares of JPMorgan Chase & Co. by 19,920.7% in the 2nd 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. Finally, Granite Bay Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 6,239.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after purchasing an additional 1,396,194 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.5 %

Shares of NYSE JPM opened at $222.94 on Friday. JPMorgan Chase & Co. has a 12-month low of $139.23 and a 12-month high of $226.75. The stock’s fifty day simple moving average is $216.15 and its two-hundred day simple moving average is $206.54. The stock has a market capitalization of $634.30 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating 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 company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the company 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, analysts expect that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given 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 dividend yield of 2.24%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Wall Street Analyst Weigh In

JPM has been the topic of several recent analyst reports. Oppenheimer reduced their target price on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Royal Bank of Canada increased 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. Finally, Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

About JPMorgan Chase & Co.

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.