Hoertkorn Richard Charles Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

Hoertkorn Richard Charles lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,182 shares of the financial services provider’s stock after selling 982 shares during the period. JPMorgan Chase & Co. accounts for approximately 5.1% of Hoertkorn Richard Charles’ holdings, making the stock its 8th biggest position. Hoertkorn Richard Charles’ holdings in JPMorgan Chase & Co. were worth $11,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in JPM. Hennion & Walsh Asset Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 24.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 31,974 shares of the financial services provider’s stock valued at $6,742,000 after acquiring an additional 6,337 shares during the last quarter. Global Assets Advisory LLC bought a new stake in JPMorgan Chase & Co. in the third quarter worth $794,000. X Square Capital LLC raised its stake in JPMorgan Chase & Co. by 2.7% during the third quarter. X Square Capital LLC now owns 21,661 shares of the financial services provider’s stock valued at $4,567,000 after purchasing an additional 569 shares in the last quarter. JCIC Asset Management Inc. lifted its position in JPMorgan Chase & Co. by 0.7% during the third quarter. JCIC Asset Management Inc. now owns 65,916 shares of the financial services provider’s stock valued at $13,899,000 after purchasing an additional 485 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 2.0% in the 3rd quarter. Grey Fox Wealth Advisors LLC now owns 3,518 shares of the financial services provider’s stock worth $742,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.2 %

Shares of JPMorgan Chase & Co. stock opened at $222.31 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $638.40 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. The firm’s 50-day moving average is $215.39 and its two-hundred day moving average is $205.45. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $4.33 earnings per share. As a group, research analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Analysts Set New Price Targets

JPM has been the topic of several recent research reports. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $220.00 to $224.00 in a research report on Monday, September 30th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Finally, Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

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.