JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 15.2% during the third quarter, Holdings Channel.com reports. The firm owned 39,383 shares of the financial services provider’s stock after selling 7,051 shares during the period. JPMorgan Chase & Co. accounts for about 1.3% of Sompo Asset Management Co. Ltd.’s holdings, making the stock its 21st largest holding. Sompo Asset Management Co. Ltd.’s holdings in JPMorgan Chase & Co. were worth $8,304,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JPM. International Assets Investment Management LLC acquired a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $1,888,088,000. Swedbank AB purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $800,130,000. 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 last quarter. Granite Bay Wealth Management LLC grew its position 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 valued at $277,456,000 after purchasing an additional 1,396,194 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after buying an additional 1,040,594 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on JPM shares. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada upped their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $249.97 on Wednesday. The firm has a fifty day simple moving average of $224.80 and a 200-day simple moving average of $212.74. The company has a market capitalization of $703.75 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $152.71 and a twelve month high of $254.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the prior year, the company posted $4.33 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.00%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

About JPMorgan Chase & Co.

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.