Kovack Advisors Inc. Sells 453 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Kovack Advisors Inc. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the third quarter, HoldingsChannel.com reports. The firm owned 31,443 shares of the financial services provider’s stock after selling 453 shares during the period. JPMorgan Chase & Co. comprises 0.7% of Kovack Advisors Inc.’s holdings, making the stock its 24th largest position. Kovack Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $6,630,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital International Investors increased its position in shares of JPMorgan Chase & Co. by 1.9% during 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 acquiring an additional 778,297 shares in the last quarter. Capital World Investors boosted its stake in JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after purchasing an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings 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 worth $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. Capital Research Global Investors raised its stake in shares of JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $1,888,088,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. 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 report on Thursday, November 7th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Oppenheimer raised their price target on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $227.13.

JPMorgan Chase & Co. Stock Up 1.4 %

JPM stock opened at $245.31 on Monday. The stock has a fifty day moving average of $219.50 and a 200-day moving average of $210.17. JPMorgan Chase & Co. has a fifty-two week low of $150.09 and a fifty-two week high of $248.00. The company has a market capitalization of $690.63 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 3.56 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $4.33 earnings per share. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $1.25 dividend. The ex-dividend date was 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 yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

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.