Webster Bank N. A. Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Webster Bank N. A. lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPMGet Rating) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,068 shares of the financial services provider’s stock after selling 2,187 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.8% of Webster Bank N. A.’s holdings, making the stock its 12th biggest position. Webster Bank N. A.’s holdings in JPMorgan Chase & Co. were worth $12,845,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in JPM. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $4,092,843,000. Vanguard Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 266,854,574 shares of the financial services provider’s stock valued at $36,377,615,000 after acquiring an additional 6,792,220 shares during the period. GQG Partners LLC boosted its stake in JPMorgan Chase & Co. by 403.3% in the 4th quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock worth $806,728,000 after purchasing an additional 4,083,231 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in JPMorgan Chase & Co. by 7,427.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock worth $363,169,000 after purchasing an additional 2,628,701 shares during the period. Finally, State Street Corp boosted its stake in JPMorgan Chase & Co. by 1.6% in the 4th 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 period. 68.57% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $112.49 on Thursday. JPMorgan Chase & Co. has a 1-year low of $106.06 and a 1-year high of $172.96. The stock’s 50-day moving average is $116.03 and its 200 day moving average is $122.29. The company has a market cap of $329.89 billion, a P/E ratio of 9.03, a PEG ratio of 2.09 and a beta of 1.10. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.83 and a quick ratio of 0.83.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last issued its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.09). The company had revenue of $30.72 billion for the quarter, compared to the consensus estimate of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. JPMorgan Chase & Co.’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.78 EPS. Research analysts predict that JPMorgan Chase & Co. will post 11.32 earnings per share 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. Shareholders of record on Thursday, October 6th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.56%. JPMorgan Chase & Co.’s dividend payout ratio is presently 32.10%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group dropped their price target on JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, July 15th. Royal Bank of Canada set a $130.00 price objective on JPMorgan Chase & Co. in a report on Tuesday, September 6th. Wells Fargo & Company decreased their price objective on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Morgan Stanley decreased their price target on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a report on Tuesday, July 12th. Finally, Barclays set a $200.00 price target on JPMorgan Chase & Co. in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $145.95.

JPMorgan Chase & Co. Company Profile

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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.

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

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