Addenda Capital Inc. Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Addenda Capital Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,397 shares of the financial services provider’s stock after selling 788 shares during the period. Addenda Capital Inc.’s holdings in JPMorgan Chase & Co. were worth $12,770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 2.6% in the first quarter. Vanguard Group Inc. now owns 266,854,574 shares of the financial services provider’s stock worth $36,377,615,000 after buying an additional 6,792,220 shares during the last quarter. State Street Corp raised its holdings in shares of JPMorgan Chase & Co. by 1.6% during the fourth quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock worth $22,441,376,000 after purchasing an additional 2,277,065 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of JPMorgan Chase & Co. by 4.5% during the first quarter. Capital Research Global Investors now owns 36,611,171 shares of the financial services provider’s stock worth $4,990,845,000 after purchasing an additional 1,590,742 shares during the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $4,092,843,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of JPMorgan Chase & Co. by 4.7% during the first quarter. Dimensional Fund Advisors LP now owns 19,360,635 shares of the financial services provider’s stock worth $2,639,810,000 after purchasing an additional 877,422 shares during the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on JPM. Barclays set a $200.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 18th. Evercore ISI reduced their target price on shares of JPMorgan Chase & Co. from $135.00 to $125.00 in a report on Friday, July 15th. Citigroup raised shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $145.00 to $135.00 in a report on Tuesday, July 12th. Oppenheimer dropped their price target on shares of JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating on the stock in a research report on Friday, July 15th. Finally, Wells Fargo & Company dropped their price target on shares of JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $145.95.

JPMorgan Chase & Co. Stock Down 1.1 %

Shares of NYSE JPM opened at $111.21 on Friday. The company’s 50-day simple moving average is $116.09 and its 200-day simple moving average is $122.16. JPMorgan Chase & Co. has a 52-week low of $106.06 and a 52-week high of $172.96. The firm has a market cap of $326.13 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 2.04 and a beta of 1.10. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.14.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last announced its earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.85 by ($0.09). JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The company had revenue of $30.72 billion during the quarter, compared to analyst estimates of $31.82 billion. During the same quarter last year, the business earned $3.78 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 11.33 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $4.00 dividend on an annualized basis and a yield of 3.60%. JPMorgan Chase & Co.’s payout ratio is presently 32.10%.

JPMorgan Chase & Co. Profile

(Get Rating)

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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

See Also

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMGet Rating).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.