JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 626,920 shares of the financial services provider’s stock after selling 3,916 shares during the quarter. JPMorgan Chase & Co. comprises about 2.7% of Pinnacle Financial Partners Inc’s portfolio, making the stock its 8th biggest holding. Pinnacle Financial Partners Inc’s holdings in JPMorgan Chase & Co. were worth $132,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital International Investors raised its position in JPMorgan Chase & Co. by 1.9% during the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after acquiring an additional 778,297 shares in the last quarter. Capital World Investors increased its stake in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after purchasing an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 period. Capital Research Global Investors lifted its stake in 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. Finally, International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth about $1,888,088,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JPM. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. 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. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Oppenheimer upped their price target on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target of $227.13.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $245.31 on Monday. The company has a market cap of $690.63 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 3.56 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $150.09 and a fifty-two week high of $248.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty day moving average price of $219.50 and a 200-day moving average price of $210.17.

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. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given 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 dividend yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.