JPMorgan Chase & Co. (NYSE:JPM) Stake Trimmed by Prospect Financial Services LLC

Prospect Financial Services LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,052 shares of the financial services provider’s stock after selling 171 shares during the period. Prospect Financial Services LLC’s holdings in JPMorgan Chase & Co. were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Retirement Group LLC raised its holdings in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the period. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $32,000. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $34,000. Finally, West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on JPM. Daiwa Capital Markets lowered their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Barclays upped their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Stock Up 0.4 %

Shares of JPM opened at $222.39 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The firm has a market cap of $638.63 billion, a P/E ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11. The stock has a 50 day simple moving average of $212.76 and a two-hundred day simple moving average of $204.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 17.26% and a net margin of 20.32%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.33 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.25%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

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.