Harvest Portfolios Group Inc. Has $23.18 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Harvest Portfolios Group Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,942 shares of the financial services provider’s stock after selling 11,633 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in JPMorgan Chase & Co. were worth $23,182,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. BCGM Wealth Management LLC raised its stake in JPMorgan Chase & Co. by 2.8% during the first quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock worth $3,818,000 after acquiring an additional 516 shares in the last quarter. Accredited Investors Inc. increased its stake in shares of JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 667 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of JPMorgan Chase & Co. by 1.4% in the first quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock valued at $17,439,000 after buying an additional 1,173 shares in the last quarter. Sunburst Financial Group LLC increased its stake in shares of JPMorgan Chase & Co. by 5.0% in the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after buying an additional 268 shares in the last quarter. Finally, Sageworth Trust Co increased its stake in shares of JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after buying an additional 786 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $236.98 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 1 year low of $143.70 and a 1 year high of $248.00. The stock has a market cap of $667.18 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. The stock’s 50-day moving average price is $217.24 and its two-hundred day moving average price is $208.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter last year, the business earned $4.33 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays raised their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday. Citigroup raised their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Daiwa Capital Markets decreased their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, Royal Bank of Canada raised their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $224.31.

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.