Ascension Asset Management LLC Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Ascension Asset Management LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,450 shares of the financial services provider’s stock after selling 330 shares during the period. Ascension Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. grew its holdings in shares of JPMorgan Chase & Co. by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 11,360 shares of the financial services provider’s stock worth $1,932,000 after purchasing an additional 164 shares during the last quarter. Aveo Capital Partners LLC grew its stake in JPMorgan Chase & Co. by 13.0% in the 4th quarter. Aveo Capital Partners LLC now owns 5,151 shares of the financial services provider’s stock worth $876,000 after acquiring an additional 591 shares in the last quarter. Gryphon Financial Partners LLC increased its position in shares of JPMorgan Chase & Co. by 66.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 25,004 shares of the financial services provider’s stock worth $4,238,000 after acquiring an additional 10,025 shares during the period. Partners Capital Investment Group LLP raised its stake in shares of JPMorgan Chase & Co. by 44.6% during the fourth quarter. Partners Capital Investment Group LLP now owns 7,737 shares of the financial services provider’s stock valued at $1,316,000 after acquiring an additional 2,385 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.7% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 5,957 shares of the financial services provider’s stock valued at $1,013,000 after purchasing an additional 101 shares during the period. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on JPM shares. Morgan Stanley dropped their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Oppenheimer boosted their price objective on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $210.50 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The business’s 50 day moving average is $211.47 and its two-hundred day moving average is $202.50. The company has a market capitalization of $604.49 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter last year, the company earned $4.37 EPS. Analysts expect that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

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.