Baystate Wealth Management LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 30.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,207 shares of the financial services provider’s stock after selling 2,328 shares during the period. Baystate Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $501,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. NuWave Investment Management LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $30,000. Laidlaw Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 20,306.8% during the second quarter. Laidlaw Wealth Management LLC now owns 2,810,830 shares of the financial services provider’s stock worth $30,000 after buying an additional 2,797,056 shares during the period. Provident Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth $34,000. FAI Wealth Management lifted its holdings in JPMorgan Chase & Co. by 317.0% in the second quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock valued at $39,000 after buying an additional 317 shares during the period. Finally, Bay Harbor Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 18.3% during the second quarter. Bay Harbor Wealth Management LLC now owns 692 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 107 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on JPM shares. Oppenheimer reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. TheStreet raised JPMorgan Chase & Co. from a “c” rating to a “b-” rating in a research note on Tuesday, August 4th. Atlantic Securities raised shares of JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating and set a $120.00 price objective for the company in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their target price for the company from $105.00 to $115.00 in a research report on Thursday, September 3rd. Finally, Seaport Global Securities initiated coverage on shares of JPMorgan Chase & Co. in a report on Wednesday, July 8th. They issued a “buy” rating and a $119.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. JPMorgan Chase & Co. has an average rating of “Buy” and an average price target of $111.59.
Shares of JPM opened at $101.51 on Friday. The firm has a market capitalization of $309.36 billion, a P/E ratio of 13.27, a P/E/G ratio of 3.16 and a beta of 1.15. JPMorgan Chase & Co. has a 52 week low of $76.91 and a 52 week high of $141.10. The stock has a 50 day moving average price of $99.36 and a two-hundred day moving average price of $96.79. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.88 and a current ratio of 0.88.
JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Monday, October 19th. The financial services provider reported $2.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.69. The company had revenue of $29.90 billion for the quarter, compared to analysts’ expectations of $28.20 billion. JPMorgan Chase & Co. had a return on equity of 10.75% and a net margin of 18.16%. JPMorgan Chase & Co.’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.68 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 6.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio is 34.35%.
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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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