DekaBank Deutsche Girozentrale Sells 70,874 Shares of JPMorgan Chase & Co. (NYSE:JPM)

DekaBank Deutsche Girozentrale reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,427,167 shares of the financial services provider’s stock after selling 70,874 shares during the period. JPMorgan Chase & Co. makes up approximately 1.3% of DekaBank Deutsche Girozentrale’s holdings, making the stock its 8th biggest holding. DekaBank Deutsche Girozentrale’s holdings in JPMorgan Chase & Co. were worth $716,121,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Retirement Group LLC raised its holdings in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $222.90 on Wednesday. JPMorgan Chase & Co. has a one year low of $136.04 and a one year high of $226.75. The company has a market cap of $640.09 billion, a P/E ratio of 12.43, a P/E/G ratio of 3.28 and a beta of 1.11. The firm’s fifty day moving average price is $215.76 and its two-hundred day moving average price is $206.02. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the company earned $4.33 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Jefferies Financial Group lifted their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $220.00 to $224.00 in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $217.94.

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.