Argyle Capital Management Inc. Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Argyle Capital Management Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,362 shares of the financial services provider’s stock after selling 533 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.7% of Argyle Capital Management Inc.’s portfolio, making the stock its 16th biggest position. Argyle Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $4,271,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bay Harbor Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 81.4% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 1,255 shares of the financial services provider’s stock worth $121,000 after buying an additional 563 shares during the period. Strategic Blueprint LLC grew its holdings in JPMorgan Chase & Co. by 16.0% in the third quarter. Strategic Blueprint LLC now owns 9,648 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 1,328 shares during the period. Ethic Inc. grew its holdings in JPMorgan Chase & Co. by 19.4% in the third quarter. Ethic Inc. now owns 23,560 shares of the financial services provider’s stock worth $2,268,000 after purchasing an additional 3,835 shares during the period. M&G Investment Management Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 30.7% during the third quarter. M&G Investment Management Ltd. now owns 1,474,799 shares of the financial services provider’s stock valued at $141,581,000 after purchasing an additional 346,518 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 10.4% during the third quarter. Financial Management Professionals Inc. now owns 4,472 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Shares of NYSE:JPM opened at $98.04 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $298.79 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. The firm’s 50 day moving average price is $99.04 and its 200-day moving average price is $97.45. JPMorgan Chase & Co. has a twelve month low of $76.91 and a twelve month high of $141.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Monday, October 19th. The financial services provider reported $2.92 EPS for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.69. The business had revenue of $29.90 billion during the quarter, compared to analysts’ expectations of $28.20 billion. JPMorgan Chase & Co. had a net margin of 19.16% and a return on equity of 10.85%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.68 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 7.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $3.60 dividend on an annualized basis and a yield of 3.67%. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.

In other JPMorgan Chase & Co. news, insider Nicole Giles sold 2,281 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $100.98, for a total value of $230,335.38. Also, CFO Jennifer Piepszak sold 3,297 shares of the firm’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $101.11, for a total value of $333,359.67. 0.78% of the stock is currently owned by company insiders.

A number of research analysts recently weighed in on the company. Seaport Global Securities began coverage on JPMorgan Chase & Co. in a research report on Wednesday, July 8th. They set a “buy” rating and a $119.00 price objective for the company. TheStreet raised JPMorgan Chase & Co. from a “c” rating to a “b-” rating in a research report on Tuesday, August 4th. Atlantic Securities upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating and set a $120.00 price target on the stock in a research note on Wednesday, July 22nd. Royal Bank of Canada restated a “buy” rating and set a $110.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 14th. Finally, Berenberg Bank upped their target price on shares of JPMorgan Chase & Co. from $77.00 to $80.00 and gave the stock a “sell” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. JPMorgan Chase & Co. has an average rating of “Buy” and a consensus price target of $111.59.

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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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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