JPMorgan Chase & Co. (NYSE:JPM) Stake Trimmed by Cito Capital Group LLC

Cito Capital Group LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,019 shares of the financial services provider’s stock after selling 2,494 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.4% of Cito Capital Group LLC’s portfolio, making the stock its 9th biggest position. Cito Capital Group LLC’s holdings in JPMorgan Chase & Co. were worth $2,949,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cornell Pochily Investment Advisors Inc. increased its position in shares of JPMorgan Chase & Co. by 0.5% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 12,191 shares of the financial services provider’s stock valued at $1,996,000 after purchasing an additional 61 shares during the period. Woodward Diversified Capital LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 3rd quarter. Woodward Diversified Capital LLC now owns 9,357 shares of the financial services provider’s stock worth $1,532,000 after acquiring an additional 62 shares during the last quarter. Cedar Mountain Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 19.4% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 388 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 63 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.6% in the 2nd quarter. Proficio Capital Partners LLC now owns 11,656 shares of the financial services provider’s stock worth $1,813,000 after acquiring an additional 65 shares during the last quarter. Finally, Adams Chetwood Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.7% in the 3rd quarter. Adams Chetwood Wealth Management LLC now owns 3,935 shares of the financial services provider’s stock worth $644,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 69.32% of the company’s stock.

JPM traded down $9.81 during trading on Friday, reaching $158.42. 1,454,897 shares of the stock traded hands, compared to its average volume of 11,865,099. The stock has a market cap of $468.17 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 2.82 and a beta of 1.13. JPMorgan Chase & Co. has a fifty-two week low of $127.35 and a fifty-two week high of $172.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50-day simple moving average is $162.40 and its two-hundred day simple moving average is $160.73.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, October 13th. The financial services provider reported $3.74 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.74. JPMorgan Chase & Co. had a return on equity of 19.89% and a net margin of 39.41%. The company had revenue of $29.60 billion during the quarter, compared to analysts’ expectations of $29.63 billion. During the same quarter in the previous year, the firm earned $2.92 earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 15.01 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 31st. Stockholders of record on Thursday, January 6th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, January 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. JPMorgan Chase & Co.’s payout ratio is presently 25.30%.

JPM has been the topic of a number of recent research reports. Societe Generale cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Wednesday, January 5th. BMO Capital Markets lifted their target price on JPMorgan Chase & Co. from $139.00 to $140.00 and gave the stock a “market perform” rating in a report on Thursday, October 14th. Royal Bank of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, December 22nd. Jefferies Financial Group lifted their target price on JPMorgan Chase & Co. from $177.00 to $198.00 and gave the stock a “buy” rating in a report on Monday, October 11th. Finally, Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $176.42.

About JPMorgan Chase & Co.

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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