Patton Albertson Miller Group LLC Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Patton Albertson Miller Group LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 50,007 shares of the financial services provider’s stock after selling 1,131 shares during the quarter. JPMorgan Chase & Co. makes up about 1.4% of Patton Albertson Miller Group LLC’s portfolio, making the stock its 15th largest holding. Patton Albertson Miller Group LLC’s holdings in JPMorgan Chase & Co. were worth $10,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. during the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the third quarter worth approximately $27,000. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. during the second quarter worth approximately $32,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the second quarter worth approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. during the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Citigroup raised their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Barclays raised their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Trading Down 0.1 %

JPM opened at $249.79 on Friday. JPMorgan Chase & Co. has a 12 month low of $152.72 and a 12 month high of $254.31. The stock has a market capitalization of $703.24 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 3.63 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The business has a fifty day moving average price of $226.43 and a 200 day moving average price of $213.26.

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 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 analysts’ expectations of $41.43 billion. During the same period in the previous year, the firm posted $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

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.