J.P. Marvel Investment Advisors LLC Has $23.32 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

J.P. Marvel Investment Advisors LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 110,598 shares of the financial services provider’s stock after selling 113 shares during the period. JPMorgan Chase & Co. comprises approximately 3.8% of J.P. Marvel Investment Advisors LLC’s holdings, making the stock its 7th biggest position. J.P. Marvel Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $23,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth about $27,000. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $37,000. Finally, West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.0 %

Shares of JPM stock opened at $239.41 on Tuesday. The company has a market cap of $674.02 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $145.16 and a 1 year high of $248.00. The stock’s 50 day simple moving average is $217.24 and its two-hundred day simple moving average is $208.46. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.33 EPS. Research analysts predict that JPMorgan Chase & Co. will post 17.62 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. Investors of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.09%. 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%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on JPM. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Barclays boosted their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Daiwa Capital Markets cut their target price 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. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Finally, Royal Bank of Canada increased their price objective 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $224.31.

About JPMorgan Chase & Co.

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.