First Trust Direct Indexing L.P. Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

First Trust Direct Indexing L.P. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 84,882 shares of the financial services provider’s stock after selling 3,450 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.0% of First Trust Direct Indexing L.P.’s portfolio, making the stock its 12th biggest holding. First Trust Direct Indexing L.P.’s holdings in JPMorgan Chase & Co. were worth $17,898,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $1,888,088,000. Swedbank AB acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at $800,130,000. Capital Research Global Investors lifted its holdings 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 in the last quarter. Wulff Hansen & CO. lifted its holdings in 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 valued at $566,632,000 after purchasing an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC boosted its stake in 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 worth $277,456,000 after purchasing an additional 1,396,194 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on JPM shares. Daiwa Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada upped their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, BMO Capital Markets upped their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $222.81.

JPMorgan Chase & Co. Trading Up 0.5 %

NYSE JPM opened at $222.94 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.91. The stock has a market capitalization of $627.65 billion, a P/E ratio of 12.41, a PEG ratio of 3.28 and a beta of 1.10. The firm’s 50-day moving average is $216.15 and its two-hundred day moving average is $206.72. JPMorgan Chase & Co. has a 12 month low of $139.23 and a 12 month high of $226.75.

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 analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $4.33 EPS. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid 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 was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

JPMorgan Chase & Co. 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.