King Luther Capital Management Corp Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

King Luther Capital Management Corp lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,942,897 shares of the financial services provider’s stock after selling 47,456 shares during the quarter. JPMorgan Chase & Co. comprises 1.8% of King Luther Capital Management Corp’s portfolio, making the stock its 12th largest position. King Luther Capital Management Corp owned about 0.07% of JPMorgan Chase & Co. worth $409,679,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of JPM. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $27,000. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $32,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the second quarter valued at about $34,000. Finally, West Financial Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at approximately $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $248.55 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $699.75 billion, a PE ratio of 13.83, a P/E/G ratio of 3.55 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $152.71 and a 1-year high of $249.15. The business’s fifty day moving average price is $223.14 and its two-hundred day moving average price is $212.01.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly 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. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.33 earnings per share. On average, research 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. 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 annualized dividend and a dividend yield of 2.01%. 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 Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup increased their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $229.31.

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.