StoneX Group Inc. Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

StoneX Group Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 32,432 shares of the financial services provider’s stock after selling 609 shares during the period. StoneX Group Inc.’s holdings in JPMorgan Chase & Co. were worth $6,839,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $1,888,088,000. Envestnet Asset Management Inc. grew its holdings in shares of JPMorgan Chase & Co. by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider’s stock valued at $1,473,809,000 after buying an additional 157,577 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of JPMorgan Chase & Co. by 3.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,017,646 shares of the financial services provider’s stock valued at $1,479,741,000 after acquiring an additional 261,363 shares during the period. Finally, Principal Financial Group Inc. raised its stake in JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after acquiring an additional 182,648 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the topic of several research analyst reports. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $249.97 on Wednesday. The stock has a market capitalization of $703.75 billion, a P/E ratio of 13.91, a P/E/G ratio of 3.61 and a beta of 1.10. The company’s fifty day moving average price is $224.80 and its 200 day moving average price is $212.74. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter last year, the business earned $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. 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 paid a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s 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.