Sompo Asset Management Co. Ltd. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,383 shares of the financial services provider's stock after selling 7,051 shares during the period. JPMorgan Chase & Co. comprises about 1.3% of Sompo Asset Management Co. Ltd.'s holdings, making the stock its 21st largest position. 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.
Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider's stock valued at $4,590,412,000 after acquiring an additional 1,040,594 shares during the period. International Assets Investment Management LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter worth $1,888,088,000. Envestnet Asset Management Inc. grew its position in JPMorgan Chase & Co. by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider's stock worth $1,473,809,000 after purchasing an additional 157,577 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in JPMorgan Chase & Co. by 3.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,017,646 shares of the financial services provider's stock valued at $1,479,741,000 after purchasing an additional 261,363 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider's stock valued at $1,228,110,000 after buying an additional 182,648 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.
NYSE JPM opened at $249.97 on Wednesday. The business has a 50 day moving average price of $224.80 and a 200 day moving average price of $212.74. The company has a market capitalization of $703.75 billion, a P/E ratio of 13.91, a PEG ratio of 3.61 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $152.71 and a 1-year high of $254.31. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results 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 return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion during the quarter, compared to analysts' expectations of $41.43 billion. During the same quarter last year, the business posted $4.33 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.15. JPMorgan Chase & Co.'s payout ratio is presently 27.82%.
Several equities analysts recently issued reports on JPM shares. Royal Bank of Canada boosted their price target 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. Morgan Stanley cut 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 note on Monday, September 30th. Oppenheimer downgraded JPMorgan Chase & Co. from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 20th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $229.31.
Check Out Our Latest Stock Analysis on 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.
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