JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Overbrook Management Corp

Overbrook Management Corp cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 39.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 32,352 shares of the financial services provider’s stock after selling 21,505 shares during the period. JPMorgan Chase & Co. makes up 1.6% of Overbrook Management Corp’s portfolio, making the stock its 25th largest holding. Overbrook Management Corp’s holdings in JPMorgan Chase & Co. were worth $6,822,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Mizuho Securities Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the third quarter worth $27,000. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. in the second quarter worth $32,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at $34,000. Finally, West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $248.55 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $699.75 billion, a PE ratio of 13.83, a P/E/G ratio of 3.55 and a beta of 1.10. The firm has a 50 day simple moving average of $223.14 and a 200-day simple moving average of $212.01. JPMorgan Chase & Co. has a 1-year low of $152.71 and a 1-year high of $249.15.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the previous year, the company earned $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current 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 given a dividend of $1.25 per share. 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. This represents a $5.00 annualized dividend and a yield of 2.01%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JPM. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. 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. Daiwa Capital Markets decreased 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. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Finally, Evercore ISI boosted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $229.31.

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.