Mesirow Financial Investment Management Inc. Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Mesirow Financial Investment Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 322,499 shares of the financial services provider’s stock after selling 2,334 shares during the period. JPMorgan Chase & Co. comprises about 1.3% of Mesirow Financial Investment Management Inc.’s holdings, making the stock its 17th biggest position. Mesirow Financial Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $68,002,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $1,888,088,000. Swedbank AB acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $800,130,000. 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 worth $3,445,185,000 after buying an additional 3,252,451 shares during the period. Wulff Hansen & CO. increased its holdings in JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after buying an additional 2,787,510 shares during the period. Finally, Granite Bay Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after buying an additional 1,396,194 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $241.93 on Friday. The company’s fifty day moving average price is $218.35 and its 200 day moving average price is $209.33. 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 market capitalization of $681.12 billion, a P/E ratio of 13.46, a P/E/G ratio of 3.48 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $148.46 and a 1 year high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.33 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.07%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on JPM shares. 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. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Oppenheimer raised 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. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $224.31.

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.