JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Allworth Financial LP

Allworth Financial LP cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,337 shares of the financial services provider’s stock after selling 6,080 shares during the quarter. Allworth Financial LP’s holdings in JPMorgan Chase & Co. were worth $57,214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of JPM. Capital International Investors grew its stake in JPMorgan Chase & Co. by 1.9% during the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after purchasing an additional 778,297 shares in the last quarter. Capital World Investors grew its stake in JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after purchasing an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. Capital Research Global Investors grew its stake in JPMorgan Chase & Co. by 23.3% during the 1st 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 in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth $1,888,088,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $225.57 on Tuesday. The stock has a market capitalization of $647.76 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $136.04 and a 52-week high of $225.92. The stock’s 50-day moving average price is $215.59 and its 200 day moving average price is $205.74. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.33 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.22%. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Analysts Set New Price Targets

JPM has been the subject of a number of recent analyst reports. Oppenheimer decreased their price target on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Evercore ISI lifted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Piper Sandler lifted their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

About JPMorgan Chase & Co.

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.