Edgewood Management LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Edgewood Management LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,158 shares of the financial services provider’s stock after selling 1,306 shares during the period. Edgewood Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,251,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter worth about $27,000. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth about $32,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the second quarter valued at about $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JPM shares. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research report on Thursday, November 7th. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Evercore ISI lifted their target price on shares of 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Trading Up 0.7 %

Shares of JPMorgan Chase & Co. stock opened at $250.29 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $152.71 and a fifty-two week high of $254.31. The business’s fifty day moving average is $223.99 and its two-hundred day moving average is $212.38. 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 firm has a market cap of $704.65 billion, a PE ratio of 13.93, a P/E/G ratio of 3.61 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the business posted $4.33 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.