Hartford Investment Management Co. Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Hartford Investment Management Co. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,073 shares of the financial services provider’s stock after selling 4,922 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.2% of Hartford Investment Management Co.’s holdings, making the stock its 12th largest holding. Hartford Investment Management Co.’s holdings in JPMorgan Chase & Co. were worth $37,759,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of JPM. Capital International Investors lifted its stake in JPMorgan Chase & Co. by 1.9% in the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after purchasing an additional 778,297 shares during the last quarter. Capital World Investors grew its stake in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after buying an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP increased 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 worth $4,590,412,000 after buying an additional 1,040,594 shares during the period. Capital Research Global Investors lifted its stake in shares of JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after acquiring an additional 3,252,451 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings 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 valued at $1,473,809,000 after acquiring an additional 157,577 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Jefferies Financial Group lifted their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Oppenheimer lowered their price target on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods upped 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 research note on Tuesday, July 9th. Finally, Citigroup raised their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $222.28 on Friday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.92. The firm’s 50-day moving average is $215.23 and its 200 day moving average is $205.23. The stock has a market cap of $638.31 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. 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 issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.33 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.25%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

JPMorgan Chase & Co. 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.