Quest Partners LLC Sells 1,944 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Quest Partners LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 34.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,674 shares of the financial services provider’s stock after selling 1,944 shares during the quarter. Quest Partners LLC’s holdings in JPMorgan Chase & Co. were worth $775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. bought a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $27,000. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $32,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $34,000. Finally, West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $245.17 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. The firm has a market cap of $690.24 billion, a PE ratio of 13.64, a P/E/G ratio of 3.53 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $152.71 and a 12 month high of $248.00. The stock has a fifty day moving average price of $222.25 and a 200-day moving average price of $211.36.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping 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 business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the company earned $4.33 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities 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 business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. 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 payout ratio is currently 27.82%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Royal Bank of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Barclays lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.