JPMorgan Chase & Co. (NYSE:JPM) Stock Position Decreased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 59.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,260 shares of the financial services provider’s stock after selling 16,789 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.7% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 6th biggest position. Cornercap Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $2,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WFA Asset Management Corp boosted its stake in shares of JPMorgan Chase & Co. by 51.2% in the first quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 412 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $1,185,000. Hoey Investments Inc. raised its position in shares of JPMorgan Chase & Co. by 5.9% during the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock valued at $4,482,000 after buying an additional 1,247 shares during the last quarter. Cumberland Partners Ltd bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $445,000. Finally, Wintrust Investments LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.6% in the first quarter. Wintrust Investments LLC now owns 47,661 shares of the financial services provider’s stock worth $9,547,000 after buying an additional 266 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of a number of research reports. Daiwa Capital Markets reduced their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Royal Bank of Canada raised their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $243.03 on Wednesday. The stock has a 50 day moving average price of $220.81 and a 200 day moving average price of $210.92. JPMorgan Chase & Co. has a 52-week low of $151.92 and a 52-week high of $248.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $684.21 billion, a P/E ratio of 13.52, a P/E/G ratio of 3.56 and a beta of 1.10.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.06%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.