Bridges Investment Management Inc. Sells 6,299 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Bridges Investment Management Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 552,321 shares of the financial services provider’s stock after selling 6,299 shares during the period. JPMorgan Chase & Co. makes up about 1.6% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 17th largest holding. Bridges Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $116,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. in the third quarter worth approximately $37,000. Finally, New England Capital Financial Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $241.24 on Thursday. The stock has a market cap of $679.17 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. 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 stock has a 50 day moving average price of $217.92 and a 200-day moving average price of $209.11. JPMorgan Chase & Co. has a one year low of $146.52 and a one year high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the business earned $4.33 EPS. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. Equities analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Analyst Ratings Changes

Several equities analysts recently weighed in on JPM shares. Royal Bank of Canada lifted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Daiwa Capital Markets lowered their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Finally, Oppenheimer increased their price objective on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $224.31.

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.