Van ECK Associates Corp Sells 1,349 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Van ECK Associates Corp decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 42.1% during the third quarter, HoldingsChannel.com reports. The firm owned 1,852 shares of the financial services provider’s stock after selling 1,349 shares during the period. Van ECK Associates Corp’s holdings in JPMorgan Chase & Co. were worth $414,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Capital International Investors boosted its position in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after acquiring an additional 778,297 shares during the period. Capital World Investors lifted its stake in JPMorgan Chase & Co. by 0.4% in the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after purchasing an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in JPMorgan Chase & Co. by 4.8% in 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 during the period. Capital Research Global Investors grew its position in shares of JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth $1,888,088,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JPM. Daiwa Capital Markets dropped their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Oppenheimer increased their price target on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $224.31.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $239.58 on Wednesday. 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 fifty-two week low of $145.16 and a fifty-two week high of $248.00. The firm has a market cap of $674.50 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. The business has a 50 day moving average price of $217.53 and a 200-day moving average price of $208.78.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company 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 firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.33 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 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.