JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,942,897 shares of the financial services provider’s stock after selling 47,456 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.8% of King Luther Capital Management Corp’s portfolio, making the stock its 12th largest holding. King Luther Capital Management Corp’s holdings in JPMorgan Chase & Co. were worth $409,679,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Accredited Investors Inc. lifted its stake in JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 667 shares in the last quarter. Sunburst Financial Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 268 shares during the period. Sageworth Trust Co lifted its position in shares of JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 786 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in JPMorgan Chase & Co. by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after purchasing an additional 95,461 shares during the period. Finally, Czech National Bank grew its position in JPMorgan Chase & Co. by 7.6% during the 2nd quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock worth $110,682,000 after purchasing an additional 38,548 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.5 %

JPMorgan Chase & Co. stock opened at $248.55 on Monday. JPMorgan Chase & Co. has a one year low of $152.71 and a one year high of $249.15. The company’s fifty day moving average price is $223.14 and its two-hundred day moving average price is $212.01. The company has a market capitalization of $699.75 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 3.55 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating 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 firm’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $4.33 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Analyst Ratings Changes

A number of analysts have recently issued reports on JPM shares. Evercore ISI increased their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup increased their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Daiwa Capital Markets lowered their target price on 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. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $229.31.

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.