Towercrest Capital Management Has $2 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Towercrest Capital Management trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,499 shares of the financial services provider’s stock after selling 805 shares during the period. Towercrest Capital Management’s holdings in JPMorgan Chase & Co. were worth $2,003,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of JPM. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. in the third quarter valued at about $1,888,088,000. Swedbank AB acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $800,130,000. Wulff Hansen & CO. boosted its stake in shares of JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after purchasing an additional 2,787,510 shares during the last quarter. Granite Bay Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after purchasing an additional 1,396,194 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after buying an additional 1,040,594 shares during the period. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.1 %

JPM opened at $249.97 on Wednesday. The stock has a market capitalization of $703.75 billion, a P/E ratio of 13.91, a P/E/G ratio of 3.61 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12 month low of $152.71 and a 12 month high of $254.31. The firm’s fifty day simple moving average is $224.80 and its 200 day simple moving average is $212.74.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.33 earnings per share. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JPM. Robert W. Baird lowered 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 report on Thursday, November 7th. Evercore ISI increased their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Royal Bank of Canada increased their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Company 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.