JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 13.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,105,670 shares of the financial services provider’s stock after selling 318,357 shares during the period. JPMorgan Chase & Co. makes up approximately 1.4% of Lord Abbett & CO. LLC’s investment portfolio, making the stock its 4th largest holding. Lord Abbett & CO. LLC owned 0.07% of JPMorgan Chase & Co. worth $444,002,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of JPM. Accredited Investors Inc. raised its holdings in JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after acquiring an additional 667 shares in the last quarter. Sageworth Trust Co increased its position in shares of JPMorgan Chase & Co. by 37.9% during the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 786 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after purchasing an additional 2,839 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of JPMorgan Chase & Co. by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after buying an additional 95,461 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after buying an additional 267 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JPM. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Daiwa Capital Markets reduced their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $234.81.

JPMorgan Chase & Co. Trading Down 0.7 %

JPM opened at $239.93 on Friday. JPMorgan Chase & Co. has a twelve month low of $161.71 and a twelve month high of $254.31. The stock has a market capitalization of $675.48 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 3.54 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a 50-day simple moving average of $234.09 and a 200 day simple moving average of $216.64.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. 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 earned $4.33 EPS. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.