Palisade Asset Management LLC Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Palisade Asset Management LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,231 shares of the financial services provider’s stock after selling 1,278 shares during the period. JPMorgan Chase & Co. accounts for about 1.7% of Palisade Asset Management LLC’s holdings, making the stock its 16th biggest position. Palisade Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $17,128,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Accredited Investors Inc. increased its position in shares of JPMorgan Chase & Co. by 4.9% during the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after purchasing an additional 667 shares during the last quarter. Sunburst Financial Group LLC boosted its stake in JPMorgan Chase & Co. by 5.0% in the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after buying an additional 268 shares in the last quarter. Sageworth Trust Co grew its position in JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 786 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after acquiring an additional 95,461 shares during the last quarter. Finally, Czech National Bank raised its stake in shares of JPMorgan Chase & Co. by 7.6% during the second quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock worth $110,682,000 after acquiring an additional 38,548 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $249.97 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $254.31. The stock has a market capitalization of $703.75 billion, a P/E ratio of 13.91, a P/E/G ratio of 3.61 and a beta of 1.10. The company’s 50-day moving average is $224.80 and its 200 day moving average is $212.74. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share 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 firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the business earned $4.33 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.00%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on JPM shares. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Barclays boosted their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, 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 note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.