JPMorgan Chase & Co. (NYSE:JPM) Stock Position Cut by First Fiduciary Investment Counsel Inc.

First Fiduciary Investment Counsel Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 144,841 shares of the financial services provider’s stock after selling 2,455 shares during the period. JPMorgan Chase & Co. makes up 6.1% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 2nd biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $30,541,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.8% in the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after buying an additional 45 shares in the last quarter. West Wealth Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 3.6% in the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after buying an additional 46 shares in the last quarter. Instrumental Wealth LLC grew its holdings in JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 47 shares during the period. Finally, Prossimo Advisors LLC raised its position in JPMorgan Chase & Co. by 0.5% in the third quarter. Prossimo Advisors LLC now owns 8,740 shares of the financial services provider’s stock worth $1,843,000 after acquiring an additional 47 shares in the last quarter. 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 cap 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. The business has a fifty day simple moving average of $217.53 and a 200-day simple moving average of $208.78. JPMorgan Chase & Co. has a 52 week low of $145.16 and a 52 week high of $248.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates 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%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.33 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.09%. 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%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Oppenheimer increased their price target on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Daiwa Capital Markets dropped their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price 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.