Baxter Bros Inc. Sells 9,157 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Baxter Bros Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,231 shares of the financial services provider’s stock after selling 9,157 shares during the quarter. JPMorgan Chase & Co. makes up about 2.2% of Baxter Bros Inc.’s investment portfolio, making the stock its 14th largest holding. Baxter Bros Inc.’s holdings in JPMorgan Chase & Co. were worth $16,917,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. Janney Montgomery Scott LLC boosted its holdings in JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 1,793,267 shares of the financial services provider’s stock worth $378,128,000 after buying an additional 14,224 shares during the period. White Pine Investment CO boosted its stake in shares of JPMorgan Chase & Co. by 1.0% in the third quarter. White Pine Investment CO now owns 37,683 shares of the financial services provider’s stock worth $7,946,000 after acquiring an additional 357 shares during the period. Prossimo Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 0.5% during the third quarter. Prossimo Advisors LLC now owns 8,740 shares of the financial services provider’s stock worth $1,843,000 after purchasing an additional 47 shares in the last quarter. New Covenant Trust Company N.A. grew its position in shares of JPMorgan Chase & Co. by 9.1% during the third quarter. New Covenant Trust Company N.A. now owns 6,323 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 529 shares in the last quarter. Finally, Northern Financial Advisors Inc raised its stake in JPMorgan Chase & Co. by 1.8% during the 3rd quarter. Northern Financial Advisors Inc now owns 11,283 shares of the financial services provider’s stock valued at $2,379,000 after purchasing an additional 203 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 11.5 %

NYSE JPM opened at $247.06 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 52 week low of $142.82 and a 52 week high of $248.00. The firm has a market capitalization of $695.56 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 3.25 and a beta of 1.10. The company has a fifty day moving average of $216.71 and a two-hundred day moving average of $207.71.

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

JPMorgan Chase & Co. Increases Dividend

The firm 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 represents a $5.00 annualized dividend and a dividend yield of 2.02%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on JPM shares. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Royal Bank of Canada lifted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Daiwa Capital Markets cut their price objective on 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, StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $223.38.

JPMorgan Chase & Co. 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.