IRON Financial LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,841 shares of the financial services provider’s stock after selling 71 shares during the period. JPMorgan Chase & Co. accounts for about 1.0% of IRON Financial LLC’s portfolio, making the stock its 25th largest position. IRON Financial LLC’s holdings in JPMorgan Chase & Co. were worth $1,864,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Retirement Group LLC increased its position in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $32,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the second quarter valued at about $34,000. Davidson Capital Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $37,000. Finally, West Financial Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter worth approximately $37,000. 71.55% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on JPM. Daiwa Capital Markets cut their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Royal Bank of Canada increased their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup lifted their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $222.81.
Read Our Latest Research Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Stock Up 0.5 %
JPM stock opened at $222.94 on Monday. JPMorgan Chase & Co. has a one year low of $139.23 and a one year high of $226.75. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.91 and a current ratio of 0.89. The firm’s fifty day moving average is $216.15 and its 200 day moving average is $206.90. The firm has a market cap of $627.65 billion, a PE ratio of 12.41, a P/E/G ratio of 3.24 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $4.33 EPS. On average, research analysts forecast that JPMorgan Chase & Co. will post 17.52 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. 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%.
About JPMorgan Chase & Co.
(Free Report)
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.
Read More
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
Receive News & Ratings for JPMorgan Chase & Co. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com’s FREE daily email newsletter.
