Harvest Fund Management Co. Ltd Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Harvest Fund Management Co. Ltd reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 38.6% in the 3rd quarter, Holdings Channel reports. The fund owned 4,175 shares of the financial services provider’s stock after selling 2,624 shares during the period. Harvest Fund Management Co. Ltd’s holdings in JPMorgan Chase & Co. were worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. WFA Asset Management Corp grew its position in JPMorgan Chase & Co. by 51.2% during the first quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after buying an additional 412 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $1,185,000. Jacobs Levy Equity Management Inc. increased its stake in shares of JPMorgan Chase & Co. by 32.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 6,374 shares of the financial services provider’s stock valued at $1,277,000 after purchasing an additional 1,569 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $1,206,000. Finally, Montchanin Asset Management LLC purchased a new position in JPMorgan Chase & Co. during the first quarter worth approximately $5,382,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on JPM shares. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a report on Thursday, November 7th. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Evercore ISI upped 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. Finally, Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Down 0.1 %

Shares of NYSE:JPM opened at $249.75 on Thursday. The company has a market capitalization of $703.13 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 3.63 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $152.72 and a 12-month high of $254.31. The business has a 50-day moving average price of $225.64 and a 200 day moving average price of $213.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly 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. 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 for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the firm earned $4.33 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

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.