JPMorgan Chase & Co. (NYSE:JPM) Position Lessened by Platform Technology Partners

Platform Technology Partners trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,116 shares of the financial services provider’s stock after selling 441 shares during the quarter. JPMorgan Chase & Co. comprises about 1.9% of Platform Technology Partners’ holdings, making the stock its 9th largest position. Platform Technology Partners’ holdings in JPMorgan Chase & Co. were worth $5,928,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth $1,888,088,000. Swedbank AB purchased a new position in JPMorgan Chase & Co. in the first quarter worth $800,130,000. Capital Research Global Investors increased its stake in JPMorgan Chase & Co. by 23.3% in the first 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 acquiring an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. raised its position in JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after purchasing an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after purchasing an additional 1,396,194 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, Robert W. Baird lowered shares of 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $227.13.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $245.31 on Friday. The firm has a 50-day moving average of $219.50 and a 200 day moving average of $209.92. 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 company has a market cap of $690.63 billion, a P/E ratio of 13.65, a PEG ratio of 3.50 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $150.09 and a 1 year high of $248.00.

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, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the prior year, the company earned $4.33 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current 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 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.82%.

JPMorgan Chase & Co. 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.