JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,880 shares of the financial services provider’s stock after selling 268 shares during the quarter. JPMorgan Chase & Co. accounts for 0.5% of Bruce G. Allen Investments LLC’s investment portfolio, making the stock its 26th largest position. Bruce G. Allen Investments LLC’s holdings in JPMorgan Chase & Co. were worth $607,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Retirement Group LLC grew its position in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $34,000. Finally, Davidson Capital Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Jefferies Financial Group increased their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Oppenheimer increased their target price on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.13.

JPMorgan Chase & Co. Stock Up 1.3 %

Shares of NYSE JPM opened at $213.41 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $612.84 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. The firm has a 50-day moving average price of $211.21 and a 200 day moving average price of $203.32. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the previous year, the business posted $4.37 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.34%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

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.