Neville Rodie & Shaw Inc. Sells 6,898 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Neville Rodie & Shaw Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,000 shares of the financial services provider’s stock after selling 6,898 shares during the period. JPMorgan Chase & Co. makes up approximately 2.1% of Neville Rodie & Shaw Inc.’s investment portfolio, making the stock its 11th largest holding. Neville Rodie & Shaw Inc.’s holdings in JPMorgan Chase & Co. were worth $28,888,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB acquired a new stake in JPMorgan Chase & Co. in the first quarter worth $800,130,000. Capital Research Global Investors raised its stake in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares during the period. Wulff Hansen & CO. grew its stake in JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after acquiring an additional 2,787,510 shares during the period. Granite Bay Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 6,239.1% in the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after acquiring an additional 1,396,194 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.1 %

JPM opened at $207.24 on Thursday. The stock’s fifty day simple moving average is $211.39 and its 200 day simple moving average is $202.88. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The stock has a market cap of $595.12 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 2.39 and a beta of 1.12. 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. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period in the prior year, the firm earned $4.37 earnings per share. As a group, research analysts expect that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on JPM shares. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a report on Monday. BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.13.

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.