Intech Investment Management LLC Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Intech Investment Management LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,378 shares of the financial services provider’s stock after selling 3,690 shares during the quarter. Intech Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $26,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Cornerstone Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 9.5% in the 3rd quarter. Cornerstone Advisors LLC now owns 170,700 shares of the financial services provider’s stock worth $35,994,000 after buying an additional 14,800 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of JPMorgan Chase & Co. by 5.5% in the third quarter. Citizens Financial Group Inc. RI now owns 317,501 shares of the financial services provider’s stock worth $66,948,000 after acquiring an additional 16,643 shares during the last quarter. Payden & Rygel increased its holdings in shares of JPMorgan Chase & Co. by 0.3% during the third quarter. Payden & Rygel now owns 184,050 shares of the financial services provider’s stock valued at $38,809,000 after acquiring an additional 600 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 0.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 31,875 shares of the financial services provider’s stock worth $6,721,000 after purchasing an additional 288 shares during the last quarter. Finally, Stonebridge Financial Planning Group LLC boosted its stake in JPMorgan Chase & Co. by 13.1% in the 3rd quarter. Stonebridge Financial Planning Group LLC now owns 1,980 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 230 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JPM. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Barclays boosted their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company upped 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 note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Up 1.5 %

JPM opened at $248.55 on Monday. JPMorgan Chase & Co. has a 52 week low of $152.71 and a 52 week high of $249.15. 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 firm has a 50-day simple moving average of $223.14 and a two-hundred day simple moving average of $212.01. The company 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.

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, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.33 EPS. Analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared 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 an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.01%. 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.