JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Cannon Financial Strategists Inc.

Cannon Financial Strategists Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 13.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,445 shares of the financial services provider’s stock after selling 218 shares during the quarter. Cannon Financial Strategists Inc.’s holdings in JPMorgan Chase & Co. were worth $305,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in JPMorgan Chase & Co. by 3.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 805,720 shares of the financial services provider’s stock valued at $169,894,000 after purchasing an additional 24,129 shares in the last quarter. Vest Financial LLC lifted its holdings in JPMorgan Chase & Co. by 20.8% in the 3rd quarter. Vest Financial LLC now owns 139,689 shares of the financial services provider’s stock valued at $29,455,000 after purchasing an additional 24,085 shares in the last quarter. Eagle Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 0.3% in the 3rd quarter. Eagle Capital Management LLC now owns 21,936 shares of the financial services provider’s stock valued at $4,625,000 after purchasing an additional 69 shares in the last quarter. Lee Johnson Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $3,989,000. Finally, West Branch Capital LLC lifted its holdings in JPMorgan Chase & Co. by 1.2% in the 3rd quarter. West Branch Capital LLC now owns 32,286 shares of the financial services provider’s stock valued at $6,808,000 after purchasing an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $223.23 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average of $214.37 and a two-hundred day moving average of $204.77. The stock has a market cap of $641.04 billion, a P/E ratio of 12.45, a P/E/G ratio of 3.28 and a beta of 1.11.

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 17.26% and a net margin of 20.32%. 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. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

Wall Street Analyst Weigh In

JPM has been the topic of several analyst reports. Citigroup lifted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Barclays lifted their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

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.