JPMorgan Chase & Co. (NYSE:JPM) Stock Position Reduced by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,940,912 shares of the financial services provider’s stock after selling 3,015,421 shares during the period. JPMorgan Chase & Co. makes up 1.6% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 7th biggest holding. Massachusetts Financial Services Co. MA owned 0.89% of JPMorgan Chase & Co. worth $5,259,041,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Henrickson Nauta Wealth Advisors Inc. grew its stake in shares of JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC grew its stake in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after buying an additional 45 shares in the last quarter. West Wealth Group LLC grew its stake in shares of JPMorgan Chase & Co. by 3.6% in the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after buying an additional 46 shares in the last quarter. Delta Financial Advisors LLC boosted its position in JPMorgan Chase & Co. by 0.3% during the third quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 46 shares during the period. Finally, Instrumental Wealth LLC boosted its position in JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $250.29 on Tuesday. 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 stock has a fifty day moving average price of $223.99 and a two-hundred day moving average price of $212.38. JPMorgan Chase & Co. has a 52-week low of $152.71 and a 52-week high of $254.31. The firm has a market capitalization of $704.65 billion, a P/E ratio of 13.93, a P/E/G ratio of 3.61 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during 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 business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.33 earnings per share. As a group, analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Royal Bank of Canada upped their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research report on Thursday, November 7th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Finally, Barclays upped their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Two 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. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target 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.