JPMorgan Chase & Co. (NYSE:JPM) is Gateway Investment Advisers LLC’s 9th Largest Position

Gateway Investment Advisers LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 702,781 shares of the financial services provider’s stock after selling 275 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.6% of Gateway Investment Advisers LLC’s holdings, making the stock its 9th largest position. Gateway Investment Advisers LLC’s holdings in JPMorgan Chase & Co. were worth $148,188,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Wellington Wealth Strategies LLC. purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $1,145,000. Cooper Financial Group boosted its position in shares of JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after purchasing an additional 984 shares during the period. Spartan Planning & Wealth Management increased its stake in shares of JPMorgan Chase & Co. by 257.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 2,722 shares in the last quarter. jvl associates llc lifted its stake in shares of JPMorgan Chase & Co. by 59.8% during the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after buying an additional 715 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV increased its stake in JPMorgan Chase & Co. by 1.3% in the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock worth $5,201,000 after buying an additional 330 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $222.29 on Friday. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a market cap of $632.45 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The business has a 50-day simple moving average of $211.79 and a 200-day simple moving average of $203.70.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.33 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.25%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.47.

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.