MAI Capital Management Sells 18,656 Shares of JPMorgan Chase & Co. (NYSE:JPM)

MAI Capital Management reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 338,479 shares of the financial services provider's stock after selling 18,656 shares during the period. MAI Capital Management's holdings in JPMorgan Chase & Co. were worth $71,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider's stock worth $8,471,687,000 after purchasing an additional 778,297 shares during the last quarter. Capital World Investors lifted its position in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider's stock worth $6,894,729,000 after purchasing an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider's stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares during the last quarter. Capital Research Global Investors lifted its position in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider's stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter worth about $1,888,088,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Oppenheimer cut shares of JPMorgan Chase & Co. from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Royal Bank of Canada increased their price objective 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. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Up 1.6 %

Shares of NYSE:JPM traded up $3.80 during trading on Friday, reaching $248.56. 7,994,315 shares of the company traded hands, compared to its average volume of 9,093,902. The firm has a fifty day simple moving average of $222.25 and a 200 day simple moving average of $211.36. The firm has a market cap of $699.78 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 3.53 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $152.71 and a 1-year 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.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during 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 company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $4.33 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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. 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%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.15. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.82%.

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.