Kovitz Investment Group Partners LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Kovitz Investment Group Partners LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.4% in the 3rd quarter, Holdings Channel reports. The fund owned 810,809 shares of the financial services provider’s stock after selling 114,644 shares during the quarter. JPMorgan Chase & Co. accounts for 1.0% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 17th largest holding. Kovitz Investment Group Partners LLC’s holdings in JPMorgan Chase & Co. were worth $161,236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of JPM. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $27,000. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Daiwa Capital Markets decreased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $234.81.

JPMorgan Chase & Co. Trading Up 0.9 %

Shares of JPMorgan Chase & Co. stock opened at $245.52 on Friday. JPMorgan Chase & Co. has a 1 year low of $156.00 and a 1 year 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 company has a market capitalization of $691.22 billion, a P/E ratio of 13.66, a PEG ratio of 3.55 and a beta of 1.11. The company’s fifty day moving average is $229.94 and its two-hundred day moving average is $214.79.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

About JPMorgan Chase & Co.

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.