MGB Wealth Management LLC Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

MGB Wealth Management LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 10,861 shares of the financial services provider’s stock after selling 625 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.8% of MGB Wealth Management LLC’s portfolio, making the stock its 25th largest holding. MGB Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. during the third quarter valued at $1,888,088,000. Swedbank AB purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $800,130,000. Wulff Hansen & CO. grew its stake in shares of JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares during the period. Granite Bay Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 6,239.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after acquiring an additional 1,396,194 shares during the period. Finally, Dimensional Fund Advisors LP increased 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 worth $4,590,412,000 after acquiring an additional 1,040,594 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $249.97 on Wednesday. The firm has a 50 day simple moving average of $224.80 and a two-hundred day simple moving average of $212.74. 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 stock has a market cap of $703.75 billion, a PE ratio of 13.91, a P/E/G ratio of 3.61 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $152.71 and a one year high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last released its 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. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. This is an increase 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 yield of 2.00%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. 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. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Royal Bank of Canada raised their price target 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, Daiwa Capital Markets decreased their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $229.31.

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.