Capital Wealth Planning LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 27.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 649,739 shares of the financial services provider’s stock after selling 251,495 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 3.1% of Capital Wealth Planning LLC’s holdings, making the stock its 15th biggest holding. Capital Wealth Planning LLC’s holdings in JPMorgan Chase & Co. were worth $62,550,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in JPM. Laidlaw Wealth Management LLC increased its position in JPMorgan Chase & Co. by 20,306.8% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 2,810,830 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 2,797,056 shares in the last quarter. Provident Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at about $34,000. FAI Wealth Management grew its holdings in JPMorgan Chase & Co. by 317.0% in the 2nd quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock valued at $39,000 after buying an additional 317 shares during the period. Marshall & Sullivan Inc. WA purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at about $43,000. Finally, Eukles Asset Management grew its holdings in JPMorgan Chase & Co. by 28.7% in the 3rd quarter. Eukles Asset Management now owns 533 shares of the financial services provider’s stock valued at $51,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.
JPMorgan Chase & Co. stock opened at $114.57 on Friday. The stock’s 50 day moving average price is $103.80 and its 200 day moving average price is $99.04. The firm has a market capitalization of $349.23 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a one year low of $76.91 and a one year high of $141.10.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.92 EPS for the quarter, topping the consensus estimate of $2.23 by $0.69. The firm had revenue of $29.90 billion for the quarter, compared to analyst estimates of $28.20 billion. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. JPMorgan Chase & Co.’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.68 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 7.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Tuesday, October 6th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Monday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.
In other JPMorgan Chase & Co. news, CFO Jennifer Piepszak sold 3,297 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $101.11, for a total transaction of $333,359.67. Also, insider Nicole Giles sold 2,281 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $100.98, for a total value of $230,335.38. Insiders own 0.78% of the company’s stock.
JPM has been the subject of several recent analyst reports. Morgan Stanley restated a “buy” rating and issued a $106.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 27th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price target for the company from $105.00 to $115.00 in a report on Thursday, September 3rd. Credit Suisse Group restated a “buy” rating and issued a $126.00 price target (up previously from $122.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, October 14th. Independent Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price target for the company from $100.00 to $110.00 in a report on Tuesday, September 29th. Finally, Keefe, Bruyette & Woods cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $125.00 to $130.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $111.34.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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