Connor Clark & Lunn Investment Management Ltd. Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Connor Clark & Lunn Investment Management Ltd. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 58.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,686 shares of the financial services provider’s stock after selling 327,666 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in JPMorgan Chase & Co. were worth $49,486,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the third quarter valued at $27,000. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $32,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.5 %

JPM stock opened at $248.55 on Friday. The stock has a market capitalization of $699.75 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10. The company has a fifty day moving average of $223.14 and a 200-day moving average of $211.90. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a one year low of $152.71 and a one year high of $249.15.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $41.43 billion. During the same quarter last year, the firm earned $4.33 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 17.62 EPS 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 issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on JPM shares. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, Citigroup raised their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Two equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $229.31.

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.