Wright Investors Service Inc. Has $7.18 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Wright Investors Service Inc. reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 16.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,941 shares of the financial services provider’s stock after selling 5,888 shares during the quarter. JPMorgan Chase & Co. comprises 2.3% of Wright Investors Service Inc.’s holdings, making the stock its 7th biggest position. Wright Investors Service Inc.’s holdings in JPMorgan Chase & Co. were worth $7,177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $37,000. Finally, New England Capital Financial Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on JPM shares. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Barclays boosted their price objective on JPMorgan Chase & Co. from $257.00 to $304.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $245.83.

JPMorgan Chase & Co. Trading Up 1.3 %

NYSE:JPM opened at $247.35 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $164.30 and a twelve month high of $254.31. 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 business has a 50 day moving average price of $242.60 and a two-hundred day moving average price of $223.51. The company has a market cap of $696.37 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. Announces Dividend

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 issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is presently 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.