Massachusetts Financial Services Co. MA Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Massachusetts Financial Services Co. MA lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,940,912 shares of the financial services provider’s stock after selling 3,015,421 shares during the period. JPMorgan Chase & Co. accounts for about 1.6% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 7th largest position. Massachusetts Financial Services Co. MA’s holdings in JPMorgan Chase & Co. were worth $5,259,041,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after acquiring an additional 1,040,594 shares during the last quarter. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. in the third quarter valued at about $1,888,088,000. Envestnet Asset Management Inc. boosted its holdings in JPMorgan Chase & Co. by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider’s stock valued at $1,473,809,000 after acquiring an additional 157,577 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in JPMorgan Chase & Co. by 3.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,017,646 shares of the financial services provider’s stock valued at $1,479,741,000 after acquiring an additional 261,363 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after acquiring an additional 182,648 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JPM. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $220.00 to $224.00 in a report on Monday, September 30th. Evercore ISI raised their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a report on Thursday, November 7th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Up 0.7 %

Shares of JPMorgan Chase & Co. stock opened at $250.29 on Tuesday. The business’s 50 day simple moving average is $223.99 and its 200 day simple moving average is $212.38. JPMorgan Chase & Co. has a 52-week low of $152.71 and a 52-week high of $254.31. The firm has a market cap of $704.65 billion, a PE ratio of 13.93, a P/E/G ratio of 3.61 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter last year, the firm earned $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts predict 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 announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 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.