Oppenheimer Asset Management Inc. Has $126.80 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 601,354 shares of the financial services provider’s stock after selling 11,033 shares during the period. JPMorgan Chase & Co. comprises approximately 1.5% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 6th largest position. Oppenheimer Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $126,802,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth approximately $1,888,088,000. Swedbank AB bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth $800,130,000. Capital Research Global Investors raised its stake in shares of JPMorgan Chase & Co. by 23.3% during 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. boosted its holdings in shares of 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 worth $566,632,000 after purchasing an additional 2,787,510 shares during the period. Finally, Granite Bay Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 6,239.1% in 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 owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on JPM. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Daiwa Capital Markets dropped their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Barclays boosted their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $227.13.

JPMorgan Chase & Co. Stock Up 1.4 %

Shares of NYSE:JPM opened at $245.31 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a fifty day simple moving average of $219.50 and a two-hundred day simple moving average of $210.17. JPMorgan Chase & Co. has a 12-month low of $150.09 and a 12-month high of $248.00. The stock has a market capitalization of $690.63 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly 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 previous year, the firm earned $4.33 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, 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 declared 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 is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.