Aspen Wealth Strategies LLC Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Aspen Wealth Strategies LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,850 shares of the financial services provider’s stock after selling 405 shares during the quarter. JPMorgan Chase & Co. comprises 1.1% of Aspen Wealth Strategies LLC’s investment portfolio, making the stock its 14th biggest holding. Aspen Wealth Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $1,655,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 45 shares in the last quarter. Sunburst Financial Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after acquiring an additional 45 shares in the last quarter. West Wealth Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 3.6% in the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 46 shares in the last quarter. Instrumental Wealth LLC raised its position in JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the last quarter. Finally, Gemmer Asset Management LLC raised its position in JPMorgan Chase & Co. by 1.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on JPM. 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. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $222.81.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $219.78 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $142.79 and a 12-month high of $226.75. The firm has a market capitalization of $618.76 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 3.24 and a beta of 1.10. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a fifty day moving average of $216.17 and a 200-day moving average of $207.18.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business earned $4.33 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.28%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

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.