Mackay Shields LLC Has $74 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Mackay Shields LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 15.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 475,790 shares of the financial services provider’s stock after selling 89,831 shares during the quarter. JPMorgan Chase & Co. makes up about 0.7% of Mackay Shields LLC’s holdings, making the stock its 24th largest holding. Mackay Shields LLC’s holdings in JPMorgan Chase & Co. were worth $74,004,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its stake in JPMorgan Chase & Co. by 3.2% in the 2nd quarter. FMR LLC now owns 48,763,496 shares of the financial services provider’s stock valued at $7,584,673,000 after acquiring an additional 1,513,407 shares in the last quarter. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 46,577,783 shares of the financial services provider’s stock valued at $7,222,281,000 after acquiring an additional 1,137,615 shares in the last quarter. Capital International Investors lifted its stake in JPMorgan Chase & Co. by 7.8% in the 1st quarter. Capital International Investors now owns 38,321,985 shares of the financial services provider’s stock valued at $5,834,601,000 after acquiring an additional 2,769,555 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in JPMorgan Chase & Co. by 2.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 31,178,926 shares of the financial services provider’s stock valued at $4,849,569,000 after acquiring an additional 743,975 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Nuveen Asset Management LLC now owns 21,649,149 shares of the financial services provider’s stock valued at $3,295,649,000 after acquiring an additional 178,676 shares in the last quarter. Institutional investors and hedge funds own 69.67% of the company’s stock.

A number of equities research analysts recently weighed in on JPM shares. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $139.00 to $140.00 and gave the company a “market perform” rating in a research note on Thursday. Jefferies Financial Group increased their price target on JPMorgan Chase & Co. from $177.00 to $198.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group set a $198.00 price target on JPMorgan Chase & Co. in a research note on Wednesday. Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Morgan Stanley upped their price objective on JPMorgan Chase & Co. from $150.00 to $166.00 and gave the company an “underweight” rating in a report on Thursday, July 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Buy” and a consensus target price of $170.18.

Shares of JPM stock traded up $1.90 on Thursday, hitting $162.90. 501,801 shares of the company’s stock were exchanged, compared to its average volume of 13,593,163. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $486.77 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 2.24 and a beta of 1.20. JPMorgan Chase & Co. has a 12 month low of $95.24 and a 12 month high of $171.51. The company has a 50 day moving average of $160.59 and a 200 day moving average of $157.52.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 12th. The financial services provider reported $3.74 EPS for the quarter, beating the consensus estimate of $3.00 by $0.74. JPMorgan Chase & Co. had a return on equity of 19.26% and a net margin of 37.71%. The firm had revenue of $29.60 billion during the quarter, compared to the consensus estimate of $29.63 billion. During the same period last year, the company earned $2.92 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. Sell-side analysts predict that JPMorgan Chase & Co. will post 14.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 31st. Stockholders of record on Wednesday, October 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 45.05%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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

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