Manitou Investment Management Ltd. Has $29.57 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Manitou Investment Management Ltd. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 16.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,215 shares of the financial services provider’s stock after selling 27,995 shares during the period. JPMorgan Chase & Co. makes up 5.6% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 9th largest position. Manitou Investment Management Ltd.’s holdings in JPMorgan Chase & Co. were worth $29,566,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $1,888,088,000. Swedbank AB purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at about $800,130,000. Capital Research Global Investors lifted its stake in 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 last quarter. Wulff Hansen & CO. lifted its stake 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 worth $566,632,000 after purchasing an additional 2,787,510 shares during the last quarter. Finally, Granite Bay Wealth Management LLC boosted its holdings 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 worth $277,456,000 after purchasing an additional 1,396,194 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on JPM shares. Daiwa Capital Markets dropped their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada raised their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $222.81.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $219.78 on Tuesday. The business has a 50 day moving average of $216.17 and a 200 day moving average of $207.18. JPMorgan Chase & Co. has a 52 week low of $142.79 and a 52 week high of $226.75. The company has a market cap of $618.76 billion, a PE ratio of 12.23, a P/E/G ratio of 3.24 and a beta of 1.10. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.33 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.28%. This is a boost 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 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.