JPMorgan Chase & Co. (NYSE:JPM) Holdings Lowered by Connable Office Inc.

Connable Office Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,302 shares of the financial services provider’s stock after selling 199 shares during the quarter. JPMorgan Chase & Co. makes up 0.6% of Connable Office Inc.’s investment portfolio, making the stock its 29th largest holding. Connable Office Inc.’s holdings in JPMorgan Chase & Co. were worth $5,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of JPM. International Assets Investment Management LLC purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $1,888,088,000. Swedbank AB purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter worth approximately $800,130,000. Capital Research Global Investors boosted its holdings in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Wulff Hansen & CO. grew its position in JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after purchasing an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 6,239.1% in 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 buying an additional 1,396,194 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JPM. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Citigroup raised their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Oppenheimer raised their price objective on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Stock Down 0.8 %

JPM stock opened at $243.03 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $151.92 and a twelve month high of $248.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market cap of $684.21 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10. The business’s 50-day simple moving average is $220.81 and its 200 day simple moving average is $210.92.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.33 earnings per share. On average, research analysts anticipate 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. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. This is an increase 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 (DPR) is presently 27.82%.

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.