Investment Management Corp of Ontario Sells 149,238 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Investment Management Corp of Ontario lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 27.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,225 shares of the financial services provider’s stock after selling 149,238 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.9% of Investment Management Corp of Ontario’s holdings, making the stock its 9th biggest holding. Investment Management Corp of Ontario’s holdings in JPMorgan Chase & Co. were worth $84,391,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $1,888,088,000. Fisher Asset Management LLC raised its stake in shares of JPMorgan Chase & Co. by 31.7% during the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares during the period. Wulff Hansen & CO. boosted its holdings in shares of JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of JPMorgan Chase & Co. by 137.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after buying an additional 2,535,590 shares during the last quarter. Finally, Granite Bay Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after purchasing an additional 1,396,194 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $246.25 on Tuesday. JPMorgan Chase & Co. has a 1 year low of $155.88 and a 1 year high of $254.31. 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 fifty day moving average of $227.21 and a 200-day moving average of $213.78. The company has a market cap of $693.28 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 3.62 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for 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 business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.33 EPS. As a group, equities analysts anticipate 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. Shareholders of record on Friday, October 4th were given a $1.25 dividend. The ex-dividend date of this dividend 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 2.03%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on JPM shares. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. 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 research report on Monday, October 14th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada boosted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Baird R W downgraded 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, eight have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $232.00.

JPMorgan Chase & Co. Company 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.