Lord Abbett & CO. LLC Adjusts Stake in JPMorgan Chase & Co.

Lord Abbett & CO. LLC has reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 13.1% in the third quarter, as reported in their latest filing with the Securities and Exchange Commission (SEC). After selling 318,357 shares, the firm now owns 2,105,670 shares of this major financial services provider. Currently, JPMorgan Chase comprises around 1.4% of Lord Abbett & CO. LLC's total investment portfolio, making it the fourth largest position within the firm’s holdings.

As of the latest reporting period, Lord Abbett & CO. LLC held shares valued at approximately $444,002,000, equating to 0.07% ownership of JPMorgan Chase & Co.

Numerous other institutional investors have recently adjusted their holdings of JPM. For instance, Accredited Investors Inc. increased its stake by 4.9% in the second quarter, bringing their total to 14,174 shares worth $2,867,000 after acquiring 667 additional shares. Similarly, Sageworth Trust Co. raised its position by 37.9% in the third quarter, and now possesses 2,860 shares valued at $603,000 after purchasing 786 more shares.

Kingsview Wealth Management LLC also boosted its ownership by 2.5% during the same quarter, amassing 118,095 shares worth $24,902,000 after buying 2,839 shares. Additionally, Mirae Asset Global Investments Co. Ltd. increased its holdings by 16.0% during the third quarter, owning 692,809 shares valued at $143,594,000 after adding 95,461 shares. Zions Bancorporation N.A. saw a similar increase of 2.5%, acquiring 11,157 shares worth $2,353,000.

Institutional investors and hedge funds together hold 71.55% of JPMorgan Chase & Co.'s stock.

Analysts' Perspectives on JPMorgan Chase & Co.

Various financial analysts have shared their forecasts regarding JPMorgan Chase. Deutsche Bank reiterated a "hold" rating with a price target of $235.00 per share. Daiwa Capital Markets also adjusted its price target from $240.00 to $235.00 while maintaining an "overweight" rating. Morgan Stanley shifted their recommendation from "overweight" to "equal weight" and revised their price goal from $220.00 to $224.00.

However, Baird R W moved JPMorgan Chase from a "hold" to a "strong sell" rating. Meanwhile, Keefe, Bruyette & Woods raised their price target from $216.00 to $254.00 while keeping a "market perform" rating. Currently, two analysts have suggested a sell rating, eight have recommended holding the stock, and ten support buying shares. Overall, analysts provide an average rating of "Hold" with an average price target of $234.81.

Current Trading Information

As of the latest figures, JPMorgan Chase & Co. shares opened at $239.93. Within the past twelve months, the stock reached a low of $161.71 and a high of $254.31. Presently, the market capitalization stands at $675.48 billion. Other financial indicators include a price-to-earnings ratio of 13.35, a P/E/G ratio of 3.54, and a beta of 1.11.

The company has a quick ratio of 0.89, a current ratio of 0.89, and its debt-to-equity ratio is 1.27. The 50-day simple moving average is $234.09, while the 200-day average stands at $216.64.

Earnings Report and Dividend Announcement

JPMorgan Chase & Co. released its quarterly earnings results on October 11, reporting earnings of $4.37 per share, surpassing analysts' expectations of $4.02 by $0.35. The company achieved a return on equity of 16.71% and a net margin of 19.64%. Revenue was reported at $43.32 billion, exceeding predictions of $41.43 billion, marking a 6.5% increase compared to the same quarter the previous year.

The firm has also declared a quarterly dividend of $1.25 per share, which will be paid on January 31. Stockholders on record as of January 6 will be eligible to receive this dividend, representing an annualized total of $5.00, yielding approximately 2.08%. The dividend payout ratio is reported at 27.82%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. operates globally in the financial services sector, divided into four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment provides a variety of financial products and services, including deposits, loans, and payment processing for consumers and small businesses through multiple channels such as bank branches, ATMs, and digital platforms.

finance, investment, stock