Concorde Asset Management LLC Sells 144 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Concorde Asset Management LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,159 shares of the financial services provider’s stock after selling 144 shares during the quarter. Concorde Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $666,000 at the end of the most recent quarter.

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

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $250.29 on Tuesday. The company has a market capitalization of $704.65 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 3.61 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. has a 52-week low of $152.71 and a 52-week high of $254.31. The company has a 50-day simple moving average of $223.99 and a 200 day simple moving average of $212.38.

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 (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.33 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date was Friday, October 4th. 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 dividend yield of 2.00%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Analyst Upgrades and Downgrades

JPM has been the subject of several research reports. Royal Bank of Canada lifted their price target 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 lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a report on Thursday, November 7th. Citigroup lifted their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $229.31.

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.