Seelaus Asset Management LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Seelaus Asset Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,494 shares of the financial services provider’s stock after selling 50 shares during the quarter. Seelaus Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mizuho Securities Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $243.03 on Wednesday. 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 twelve month low of $151.92 and a twelve month high of $248.00. The business has a 50-day moving average price of $220.81 and a 200 day moving average price of $210.92. The firm has a market cap of $684.21 billion, a PE ratio of 13.52, a P/E/G ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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. 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 during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business earned $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.06%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analyst Ratings Changes

A number of analysts have commented on JPM shares. Oppenheimer lifted their price target on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Citigroup lifted their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Royal Bank of Canada lifted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research 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 report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $229.31.

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.