Studio Investment Management LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Studio Investment Management LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,341 shares of the financial services provider’s stock after selling 677 shares during the period. JPMorgan Chase & Co. comprises 1.0% of Studio Investment Management LLC’s portfolio, making the stock its 24th largest holding. Studio Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Accredited Investors Inc. grew its holdings in shares of JPMorgan Chase & Co. by 4.9% in the 2nd 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 during the period. Sunburst Financial Group LLC boosted its position in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 268 shares in the last quarter. Sageworth Trust Co grew its holdings in JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 786 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in JPMorgan Chase & Co. by 16.0% in the third 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 purchasing an additional 95,461 shares during the last quarter. Finally, Czech National Bank increased its position in shares of JPMorgan Chase & Co. by 7.6% in the second quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock valued at $110,682,000 after buying an additional 38,548 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $250.29 on Tuesday. The stock has a market capitalization of $704.65 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. The business’s fifty day moving average price is $223.99 and its 200 day moving average price is $212.38. 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. has a 12-month low of $152.71 and a 12-month high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $41.43 billion. During the same period last year, the firm posted $4.33 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Analysts Set New Price Targets

Several research firms have recently commented on JPM. Barclays increased their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research report on Thursday, November 7th. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Evercore ISI raised their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.