JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by SSI Investment Management LLC

SSI Investment Management LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,647 shares of the financial services provider’s stock after selling 565 shares during the quarter. SSI Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $769,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at $27,000. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Royal Bank of Canada boosted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $248.55 on Monday. The business’s 50-day simple moving average is $223.14 and its 200-day simple moving average is $212.01. JPMorgan Chase & Co. has a 52 week low of $152.71 and a 52 week high of $249.15. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $699.75 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 3.55 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion for 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 quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.33 earnings per share. As a group, equities research analysts expect 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. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This is a positive change 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 payout ratio is currently 27.82%.

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.