Wallace Advisory Group LLC Sells 1,254 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Wallace Advisory Group LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 23.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,196 shares of the financial services provider’s stock after selling 1,254 shares during the quarter. Wallace Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Mizuho Securities Co. Ltd. bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth $27,000. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter worth $32,000. West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth $37,000. Finally, New England Capital Financial Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after buying an additional 50 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 1.9 %

Shares of NYSE:JPM opened at $252.22 on Thursday. JPMorgan Chase & Co. has a 1 year low of $164.30 and a 1 year high of $254.31. The business has a 50 day simple moving average of $242.60 and a two-hundred day simple moving average of $223.51. The firm has a market capitalization of $710.09 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. 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 announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the previous year, the business earned $3.04 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.98%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JPM. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Finally, Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $245.83.

JPMorgan Chase & Co. Company 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.