Physicians Financial Services Inc. Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Physicians Financial Services Inc. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,372 shares of the financial services provider’s stock after selling 350 shares during the quarter. Physicians Financial Services Inc.’s holdings in JPMorgan Chase & Co. were worth $1,554,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of JPM. WFA Asset Management Corp increased its stake in JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $1,185,000. Hoey Investments Inc. raised its holdings in JPMorgan Chase & Co. by 5.9% in the 1st quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock worth $4,482,000 after acquiring an additional 1,247 shares during the last quarter. Advisors Capital Management LLC lifted its position in JPMorgan Chase & Co. by 8.8% in the 1st quarter. Advisors Capital Management LLC now owns 435,744 shares of the financial services provider’s stock valued at $87,280,000 after acquiring an additional 35,403 shares in the last quarter. Finally, Flossbach Von Storch AG purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $323,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $239.58 on Wednesday. The company has a market capitalization of $674.50 billion, a P/E ratio of 13.33, a P/E/G ratio of 3.46 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $145.16 and a 1-year high of $248.00. The firm’s 50 day simple moving average is $217.53 and its two-hundred day simple moving average is $208.78. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.33 EPS. Research analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was 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 (DPR) is 27.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JPM. Morgan Stanley downgraded 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, September 30th. Oppenheimer lifted their price target on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $224.31.

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.