Advisors Asset Management Inc. Sells 1,780 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Advisors Asset Management Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,818 shares of the financial services provider’s stock after selling 1,780 shares during the period. Advisors Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $16,198,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. in the second quarter worth about $32,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.5 %

NYSE JPM opened at $248.55 on Friday. JPMorgan Chase & Co. has a 52 week low of $152.71 and a 52 week high of $249.15. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $699.75 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10. The stock’s 50-day moving average price is $223.14 and its 200-day moving average price is $211.90.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter last year, the business earned $4.33 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, 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 company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.01%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analysts Set New Price Targets

JPM has been the topic of several analyst reports. Daiwa Capital Markets lowered their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $229.31.

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.