Fortune Financial Advisors LLC Sells 5,244 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Fortune Financial Advisors LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 32.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,753 shares of the financial services provider’s stock after selling 5,244 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.1% of Fortune Financial Advisors LLC’s holdings, making the stock its 14th largest holding. Fortune Financial Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BCGM Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 2.8% in the 1st quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock worth $3,818,000 after purchasing an additional 516 shares during the last quarter. Accredited Investors Inc. lifted its holdings in JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after acquiring an additional 667 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 1.4% during the first quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock worth $17,439,000 after acquiring an additional 1,173 shares in the last quarter. Sunburst Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 268 shares in the last quarter. Finally, Sageworth Trust Co lifted its holdings in JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 786 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $224.41 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day simple moving average is $215.96 and its 200 day simple moving average is $206.15. The company has a market cap of $638.48 billion, a P/E ratio of 12.49, a P/E/G ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $137.47 and a 52-week high of $226.75.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.23%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Citigroup lifted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Daiwa Capital Markets dropped their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s 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.