Massachusetts Financial Services Co. MA Sells 874,861 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Massachusetts Financial Services Co. MA decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,956,333 shares of the financial services provider’s stock after selling 874,861 shares during the quarter. JPMorgan Chase & Co. makes up about 1.7% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 6th biggest holding. Massachusetts Financial Services Co. MA owned approximately 0.97% of JPMorgan Chase & Co. worth $5,654,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Wealth Strategies LLC. acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $1,145,000. Cooper Financial Group raised its holdings in JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after buying an additional 984 shares during the period. Spartan Planning & Wealth Management raised its holdings in JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after buying an additional 2,722 shares during the period. jvl associates llc raised its holdings in JPMorgan Chase & Co. by 59.8% in the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after buying an additional 715 shares during the period. Finally, MMA Asset Management LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $207,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $210.98 on Friday. The company has a market capitalization of $605.86 billion, a P/E ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The business has a 50 day simple moving average of $211.61 and a 200-day simple moving average of $201.64. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the prior year, the company earned $4.37 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JPM. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Morgan Stanley cut their target price on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Barclays upped their target price on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

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.