Blackston Financial Advisory Group LLC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Blackston Financial Advisory Group LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 17.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,205 shares of the financial services provider’s stock after selling 880 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Thrive Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 7.6% in the 1st quarter. Thrive Wealth Management LLC now owns 7,854 shares of the financial services provider’s stock worth $1,573,000 after buying an additional 555 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in JPMorgan Chase & Co. by 0.7% in the first quarter. 180 Wealth Advisors LLC now owns 19,426 shares of the financial services provider’s stock valued at $3,891,000 after acquiring an additional 129 shares in the last quarter. Tarbox Family Office Inc. boosted its stake in JPMorgan Chase & Co. by 13.5% in the first quarter. Tarbox Family Office Inc. now owns 1,926 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 229 shares in the last quarter. Dohj LLC increased its position in shares of JPMorgan Chase & Co. by 1.3% during the first quarter. Dohj LLC now owns 8,661 shares of the financial services provider’s stock worth $1,735,000 after purchasing an additional 109 shares in the last quarter. Finally, Cypress Wealth Services LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.7% during the 1st quarter. Cypress Wealth Services LLC now owns 9,894 shares of the financial services provider’s stock valued at $1,982,000 after purchasing an additional 167 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $222.31 on Monday. The firm has a 50-day simple moving average of $215.39 and a 200-day simple moving average of $205.52. 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 $638.40 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data 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. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Analyst Ratings Changes

A number of equities research analysts have commented on JPM shares. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Morgan Stanley cut 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 research report on Monday, September 30th. Oppenheimer dropped their price target on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets lifted their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.