JPMorgan Chase & Co. (NYSE:JPM) Holdings Reduced by Essex Financial Services Inc.

Essex Financial Services Inc. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,592 shares of the financial services provider’s stock after selling 7,115 shares during the period. JPMorgan Chase & Co. makes up approximately 0.7% of Essex Financial Services Inc.’s holdings, making the stock its 20th biggest position. Essex Financial Services Inc.’s holdings in JPMorgan Chase & Co. were worth $14,922,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of JPM. Retirement Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. BMO Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Up 0.7 %

JPMorgan Chase & Co. stock opened at $224.41 on Thursday. The firm has a market cap of $638.48 billion, a PE ratio of 12.49, a P/E/G ratio of 3.28 and a beta of 1.11. 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 firm’s 50 day moving average price is $215.96 and its two-hundred day moving average price is $206.15. JPMorgan Chase & Co. has a twelve month low of $137.47 and a twelve month high of $226.75.

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 for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.33 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.