Covington Investment Advisors Inc. Sells 641 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Covington Investment Advisors Inc. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 39,913 shares of the financial services provider’s stock after selling 641 shares during the period. Covington Investment Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $8,416,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JPM. WFA Asset Management Corp increased its stake in JPMorgan Chase & Co. by 51.2% during the first quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 412 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of JPMorgan Chase & Co. by 32.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 6,374 shares of the financial services provider’s stock worth $1,277,000 after purchasing an additional 1,569 shares in the last quarter. Cetera Investment Advisers increased its position in shares of JPMorgan Chase & Co. by 202.3% during the first quarter. Cetera Investment Advisers now owns 976,108 shares of the financial services provider’s stock valued at $195,514,000 after purchasing an additional 653,205 shares during the period. Cetera Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 82.4% during the first quarter. Cetera Advisors LLC now owns 455,164 shares of the financial services provider’s stock valued at $91,169,000 after purchasing an additional 205,592 shares during the period. Finally, Cetera Advisor Networks LLC lifted its position in JPMorgan Chase & Co. by 2.4% in the first quarter. Cetera Advisor Networks LLC now owns 382,523 shares of the financial services provider’s stock worth $76,619,000 after purchasing an additional 8,929 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.1 %

NYSE JPM opened at $249.79 on Friday. The stock has a market capitalization of $703.24 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 3.63 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $152.72 and a 52 week high of $254.31. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty day moving average of $226.43 and a 200-day moving average of $213.26.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same period last year, the company earned $4.33 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Daiwa Capital Markets cut their target price on 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. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Barclays lifted their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. 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.