Intech Investment Management LLC Sells 3,690 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Intech Investment Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 126,378 shares of the financial services provider’s stock after selling 3,690 shares during the period. Intech Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $26,648,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in JPMorgan Chase & Co. by 4.8% during the 2nd 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 purchasing an additional 1,040,594 shares during the period. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $1,888,088,000. Envestnet Asset Management Inc. raised its stake in JPMorgan Chase & Co. by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider’s stock worth $1,473,809,000 after buying an additional 157,577 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in JPMorgan Chase & Co. by 3.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,017,646 shares of the financial services provider’s stock worth $1,479,741,000 after buying an additional 261,363 shares during the period. Finally, Principal Financial Group Inc. boosted its position in JPMorgan Chase & Co. by 3.2% during the 3rd 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 acquiring an additional 182,648 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research note on Thursday, November 7th. Citigroup increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Daiwa Capital Markets lowered their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Trading Up 1.5 %

Shares of NYSE:JPM opened at $248.55 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 52-week low of $152.71 and a 52-week high of $249.15. The stock has a market cap of $699.75 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 3.55 and a beta of 1.10. The business has a 50-day moving average price of $223.14 and a 200-day moving average price of $212.01.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.33 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.01%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

JPMorgan Chase & Co. Company 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.