Wright Investors Service Inc. Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Wright Investors Service Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 19.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 35,829 shares of the financial services provider’s stock after selling 8,536 shares during the period. JPMorgan Chase & Co. comprises approximately 2.0% of Wright Investors Service Inc.’s portfolio, making the stock its 11th largest position. Wright Investors Service Inc.’s holdings in JPMorgan Chase & Co. were worth $7,555,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after purchasing an additional 778,297 shares in the last quarter. Capital World Investors increased its position in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after acquiring an additional 150,812 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of 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 in the last quarter. Capital Research Global Investors boosted its holdings in JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Finally, Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 4.0% during the 4th quarter. Fisher Asset Management LLC now owns 11,836,898 shares of the financial services provider’s stock worth $2,013,457,000 after purchasing an additional 450,098 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of analyst reports. Citigroup increased their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Piper Sandler upped their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $212.13.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM traded up $7.20 during midday trading on Friday, reaching $211.22. 10,213,415 shares of the company were exchanged, compared to its average volume of 9,148,031. The stock has a market cap of $606.55 billion, a P/E ratio of 11.78, a PEG ratio of 2.39 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The stock has a fifty day simple moving average of $211.30 and a 200 day simple moving average of $203.09. 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 released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the previous year, the company posted $4.37 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

JPMorgan Chase & Co. Company 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.