JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by GUNN & Co INVESTMENT MANAGEMENT INC.

GUNN & Co INVESTMENT MANAGEMENT INC. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 91.7% during the third quarter, Holdings Channel.com reports. The firm owned 31,507 shares of the financial services provider’s stock after selling 349,377 shares during the period. JPMorgan Chase & Co. comprises about 4.6% of GUNN & Co INVESTMENT MANAGEMENT INC.’s portfolio, making the stock its 6th biggest holding. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in JPMorgan Chase & Co. were worth $6,644,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in JPM. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter worth $1,888,088,000. Swedbank AB acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $800,130,000. Capital Research Global Investors raised its stake in shares of JPMorgan Chase & Co. by 23.3% during the 1st 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 in the last quarter. Wulff Hansen & CO. lifted its holdings in shares of JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after buying an additional 2,787,510 shares during the last quarter. Finally, Granite Bay Wealth Management LLC grew its stake in shares of 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 in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JPM has been the subject of a number of analyst reports. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Citigroup raised their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Evercore ISI increased their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Stock Down 1.2 %

Shares of JPM opened at $222.31 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50-day simple moving average of $215.39 and a 200-day simple moving average of $205.45. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.92. The firm has a market capitalization of $638.40 billion, a P/E ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm 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 firm posted $4.33 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.25%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

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.