Wellington Management Group LLP Sells 6,100,341 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Wellington Management Group LLP lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,799,521 shares of the financial services provider’s stock after selling 6,100,341 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.1% of Wellington Management Group LLP’s holdings, making the stock its 11th biggest holding. Wellington Management Group LLP owned about 1.06% of JPMorgan Chase & Co. worth $6,283,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. One Charles Private Wealth Services LLC grew its position in JPMorgan Chase & Co. by 0.4% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock worth $2,568,000 after acquiring an additional 44 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its stake in shares of JPMorgan Chase & Co. by 1.3% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.8% during the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after purchasing an additional 45 shares during the last quarter. West Wealth Group LLC increased its stake in shares of JPMorgan Chase & Co. by 3.6% in the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after buying an additional 46 shares during the period. Finally, Delta Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 0.3% in the 3rd quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $245.52 on Friday. The firm has a market capitalization of $691.22 billion, a P/E ratio of 13.66, a P/E/G ratio of 3.55 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $156.00 and a 52 week high of $254.31. The stock has a 50 day moving average price of $229.94 and a two-hundred day moving average price of $214.79. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

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, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the company posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on JPM shares. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a report on Thursday, November 7th. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $234.81.

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.