Palmer Knight Co Sells 525 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Palmer Knight Co lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,609 shares of the financial services provider’s stock after selling 525 shares during the quarter. JPMorgan Chase & Co. accounts for about 3.1% of Palmer Knight Co’s investment portfolio, making the stock its 19th biggest position. Palmer Knight Co’s holdings in JPMorgan Chase & Co. were worth $7,087,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Financial Strategies Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.5% during the 3rd quarter. Financial Strategies Group Inc. now owns 33,171 shares of the financial services provider’s stock worth $7,347,000 after buying an additional 175 shares during the period. AIA Group Ltd boosted its stake in shares of JPMorgan Chase & Co. by 2.2% in the 3rd quarter. AIA Group Ltd now owns 75,854 shares of the financial services provider’s stock valued at $15,995,000 after purchasing an additional 1,601 shares in the last quarter. Summit Global Investments grew its holdings in shares of JPMorgan Chase & Co. by 96.3% in the 3rd quarter. Summit Global Investments now owns 31,835 shares of the financial services provider’s stock worth $6,713,000 after purchasing an additional 15,616 shares during the last quarter. Bensler LLC increased its position in shares of JPMorgan Chase & Co. by 46.5% during the 3rd quarter. Bensler LLC now owns 2,029 shares of the financial services provider’s stock worth $428,000 after purchasing an additional 644 shares in the last quarter. Finally, Smith Thornton Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 26.4% during the 3rd quarter. Smith Thornton Advisors LLC now owns 3,711 shares of the financial services provider’s stock valued at $783,000 after purchasing an additional 775 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $239.41 on Tuesday. The stock has a 50-day moving average price of $217.24 and a two-hundred day moving average price of $208.46. JPMorgan Chase & Co. has a 1 year low of $145.16 and a 1 year high of $248.00. The stock 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. 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. (NYSE:JPM) last posted its quarterly earnings data 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 business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period last year, the company earned $4.33 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.09%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Daiwa Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $224.31.

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.