Hi Line Capital Management LLC Sells 66,775 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Hi Line Capital Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 65.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,170 shares of the financial services provider’s stock after selling 66,775 shares during the quarter. JPMorgan Chase & Co. comprises approximately 3.6% of Hi Line Capital Management LLC’s holdings, making the stock its 11th largest position. Hi Line Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,416,000 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 position in JPMorgan Chase & Co. by 1.3% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 0.8% in the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after acquiring an additional 45 shares during 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 grew its position in JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 47 shares during the last quarter. Finally, Gemmer Asset Management LLC increased its holdings in JPMorgan Chase & Co. by 1.6% during the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent analyst reports. Barclays boosted their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Oppenheimer decreased their price objective on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $222.81.

JPMorgan Chase & Co. Trading Down 1.4 %

NYSE:JPM opened at $219.78 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 1-year low of $142.79 and a 1-year high of $226.75. The firm has a market capitalization of $618.76 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 3.24 and a beta of 1.10. The business’s 50-day moving average price is $216.17 and its two-hundred day moving average price is $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 for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.33 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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