JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 552,321 shares of the financial services provider's stock after selling 6,299 shares during the quarter. JPMorgan Chase & Co. comprises about 1.6% of Bridges Investment Management Inc.'s investment portfolio, making the stock its 17th biggest position. Bridges Investment Management Inc.'s holdings in JPMorgan Chase & Co. were worth $116,462,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the third quarter worth about $27,000. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $34,000. West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. Finally, New England Capital Financial Advisors LLC lifted its stake in JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider's stock worth $38,000 after acquiring an additional 50 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.2 %

Shares of JPM opened at $241.60 on Thursday. The stock has a 50 day moving average price of $218.35 and a 200 day moving average price of $209.33. JPMorgan Chase & Co. has a one year low of $148.46 and a one year 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 stock has a market capitalization of $680.19 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 3.48 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating 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 business had revenue of $43.32 billion during the quarter, compared to analysts' expectations of $41.43 billion. During the same period in the prior year, the business earned $4.33 earnings per share. The company's quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.07%. 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. JPMorgan Chase & Co.'s dividend payout ratio is 27.82%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JPM. Daiwa Capital Markets lowered their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an "overweight" rating for the company in a research report on Thursday, October 10th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Thursday, November 7th. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Barclays upped their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Hold" and an average price target of $224.31.

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.