Sawgrass Asset Management LLC Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Sawgrass Asset Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,090 shares of the financial services provider’s stock after selling 352 shares during the period. Sawgrass Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,025,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Accredited Investors Inc. grew its holdings in shares of JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 667 shares during the last quarter. Sunburst Financial Group LLC grew its stake in JPMorgan Chase & Co. by 5.0% during the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after purchasing an additional 268 shares during the last quarter. Sageworth Trust Co increased its holdings in shares of JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 786 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after purchasing an additional 95,461 shares during the last quarter. Finally, Czech National Bank lifted its holdings in shares of JPMorgan Chase & Co. by 7.6% during the second quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock worth $110,682,000 after purchasing an additional 38,548 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on JPM shares. Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Morgan Stanley downgraded 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. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Barclays raised their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Trading Down 1.0 %

Shares of JPM stock opened at $240.78 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $152.57 and a fifty-two week high of $248.00. 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’s fifty day moving average is $221.48 and its two-hundred day moving average is $211.13. The firm has a market capitalization of $677.88 billion, a P/E ratio of 13.40, a PEG ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share 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 firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period last year, the firm posted $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

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.