Wright Investors Service Inc. Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Wright Investors Service Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 19.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,829 shares of the financial services provider’s stock after selling 8,536 shares during the period. JPMorgan Chase & Co. makes up about 2.0% of Wright Investors Service Inc.’s holdings, making the stock its 11th largest position. Wright Investors Service Inc.’s holdings in JPMorgan Chase & Co. were worth $7,555,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in JPM. Cullen Investment Group LTD. lifted its position in shares of JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Cullen Investment Group LTD. now owns 101,186 shares of the financial services provider’s stock valued at $21,336,000 after acquiring an additional 319 shares during the period. Quent Capital LLC raised its holdings in JPMorgan Chase & Co. by 2.0% during the third quarter. Quent Capital LLC now owns 13,047 shares of the financial services provider’s stock worth $2,750,000 after purchasing an additional 255 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in JPMorgan Chase & Co. by 0.3% during the third quarter. Harbor Investment Advisory LLC now owns 68,512 shares of the financial services provider’s stock worth $14,446,000 after purchasing an additional 202 shares in the last quarter. Mirador Capital Partners LP grew its holdings in JPMorgan Chase & Co. by 1.2% in the third quarter. Mirador Capital Partners LP now owns 54,519 shares of the financial services provider’s stock valued at $11,496,000 after purchasing an additional 669 shares during the last quarter. Finally, Central Valley Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 0.7% in the third quarter. Central Valley Advisors LLC now owns 23,102 shares of the financial services provider’s stock valued at $4,871,000 after buying an additional 151 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Evercore ISI increased their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Citigroup boosted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $212.13.

JPMorgan Chase & Co. Stock Up 3.5 %

JPMorgan Chase & Co. stock traded up $7.20 during trading on Friday, reaching $211.22. 10,213,415 shares of the company’s stock were exchanged, compared to its average volume of 9,148,031. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The firm has a market cap of $606.55 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.39 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50-day moving average is $211.30 and its two-hundred day moving average is $203.09.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the prior year, the business earned $4.37 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share 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. Shareholders of record on Friday, October 4th will be given a $1.25 dividend. This is an increase 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 2.37%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

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.