Wright Investors Service Inc. is reducing its position in JPMorgan Chase & Co. (NYSE:JPM)

Wright Investors Service Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 19.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,829 shares of the financial services provider’s stock after selling 8,536 shares during the period. JPMorgan Chase & Co. makes up approximately 2.0% of Wright Investors Service Inc.’s holdings, making the stock its 11th largest position. Holdings held by Wright Investors Service Inc. in JPMorgan Chase & Co. were worth $7,555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in JPM. Cullen Investment Group LTD. raised its position in shares of JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Cullen Investment Group LTD. now owns 101,186 shares of the financial services provider’s stock valued at $21,336,000 after acquiring an additional 319 shares during the period. Quent Capital LLC increased its holdings in JPMorgan Chase & Co. by 2.0% during the third quarter. Quent Capital LLC now owns 13,047 shares of the financial services provider’s stock worth $2,750,000 after purchasing an additional 255 shares during the last quarter. Harbor Investment Advisory LLC increased its position in JPMorgan Chase & Co. by 0.3% during the third quarter. Harbor Investment Advisory LLC now owns 68,512 shares of the financial services provider’s stock worth $14,446,000 after purchasing an additional 202 shares in the last quarter. Mirador Capital Partners LP grew its holdings in JPMorgan Chase & Co. by 1.2% in the third quarter. Mirador Capital Partners LP now owns 54,519 shares of the financial services provider’s stock valued at $11,496,000 after purchasing an additional 669 shares during the last quarter. Finally, Central Valley Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 0.7% in the third quarter. Central Valley Advisors LLC now owns 23,102 shares of the financial services provider’s stock valued at $4,871,000 after buying an additional 151 shares in the last quarter. 71.55% of shares are owned by institutional investors and hedge funds.

The Wall Street analyst weighs in

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Evercore ISI raised their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Citigroup raised its price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $212.13.

Check out our latest research report on JPM

The stocks of JPMorgan Chase & Co. increased by 3.5%

Shares of JPMorgan Chase & Co. traded up $7.20 during trading on Friday, reaching $211.22. 10,213,415 shares of the company’s stock traded hands, compared to its average volume of 9,148,031. JPMorgan Chase & Co. it has a 52-week low of $135.19 and a 52-week high of $225.48. The firm has a market cap of $606.55 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.39 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91, and a current ratio of 0.91. The company’s 50-day moving average is $211.30, and its two-hundred-day moving average is $203.09.

JPMorgan Chase & Co. (NYSE:JPM – Get Your Free Report ) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. In the same quarter last year, the company earned $4.37 per share. On average, analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. increase the dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend. of $1.15. The ex-dividend date of this dividend is Friday, October 4. This represents an annualized dividend of $5.00 and a yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio (DPR). is 27.89%.

JPMorgan Chase & Co. Profile

(Free report)

JPMorgan Chase & Co. operates as a global financial services company. 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, leasing and travel services for consumers and small businesses through bank branches, ATMs and digital and phone banking.

See Also

Want to see what other hedge funds JPM owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for JPMorgan Chase & Co. (NYSE:JPM – Free Report).

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