JPMorgan Chase & Co. (NYSE:JPM) Stock Position Lessened by Harbour Investments Inc.

Harbour Investments Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 21.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,907 shares of the financial services provider’s stock after selling 9,269 shares during the quarter. Harbour Investments Inc.’s holdings in JPMorgan Chase & Co. were worth $7,150,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth $27,000. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth about $32,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the second quarter worth about $34,000. West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. in the third quarter worth about $37,000. Finally, New England Capital Financial Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on JPM. Daiwa Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada increased their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Evercore ISI upped their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $227.13.

JPMorgan Chase & Co. Trading Up 1.4 %

Shares of NYSE JPM opened at $245.31 on Friday. The business has a 50 day simple moving average of $219.50 and a 200 day simple moving average of $209.92. JPMorgan Chase & Co. has a 52 week low of $150.09 and a 52 week high of $248.00. The stock has a market cap of $690.63 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 3.50 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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 net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the prior year, the company posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.04%. The ex-dividend date was Friday, October 4th. 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%.

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.