Lowe Brockenbrough & Co. Inc. Sells 8,495 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Lowe Brockenbrough & Co. Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.5% during the third quarter, Holdings Channel reports. The firm owned 146,167 shares of the financial services provider’s stock after selling 8,495 shares during the quarter. JPMorgan Chase & Co. makes up about 2.0% of Lowe Brockenbrough & Co. Inc.’s portfolio, making the stock its 7th largest holding. Lowe Brockenbrough & Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $30,821,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. Capital International Investors raised its position in shares of 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 during the last quarter. Capital World Investors grew its stake in shares of 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 valued at $6,894,729,000 after buying an additional 150,812 shares during the period. Dimensional Fund Advisors LP increased its holdings in JPMorgan Chase & Co. by 4.8% in the 2nd 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 purchasing an additional 1,040,594 shares in the last quarter. Capital Research Global Investors increased its holdings in JPMorgan Chase & Co. by 23.3% in the 1st 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 in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at $1,888,088,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.8 %

Shares of NYSE:JPM opened at $221.58 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $142.79 and a 52 week high of $226.75. 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 company has a market capitalization of $623.82 billion, a PE ratio of 12.33, a PEG ratio of 3.25 and a beta of 1.10. The company has a 50 day moving average price of $216.19 and a two-hundred day moving average price of $207.43.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the company posted $4.33 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.26%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on JPM shares. Oppenheimer raised their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Royal Bank of Canada lifted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Barclays lifted their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $223.38.

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.