First Long Island Investors LLC Sells 605 Shares of JPMorgan Chase & Co. (NYSE:JPM)

First Long Island Investors LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 122,584 shares of the financial services provider’s stock after selling 605 shares during the period. JPMorgan Chase & Co. makes up approximately 2.0% of First Long Island Investors LLC’s investment portfolio, making the stock its 20th biggest position. First Long Island Investors LLC’s holdings in JPMorgan Chase & Co. were worth $25,848,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. Finally, West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Daiwa Capital Markets reduced their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada upped their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Barclays upped their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $243.03 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average price is $220.81 and its 200-day moving average price is $210.92. JPMorgan Chase & Co. has a 52 week low of $151.92 and a 52 week high of $248.00. The stock has a market cap of $684.21 billion, a P/E ratio of 13.52, a P/E/G ratio of 3.56 and a beta of 1.10.

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 the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.33 EPS. Equities research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.06%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

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.