Providence Wealth Advisors LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Providence Wealth Advisors LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,682 shares of the financial services provider’s stock after selling 938 shares during the period. JPMorgan Chase & Co. comprises about 1.4% of Providence Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest position. Providence Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,413,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Morgan Stanley increased its stake in shares of JPMorgan Chase & Co. by 6.4% during the first quarter. Morgan Stanley now owns 37,812,884 shares of the financial services provider’s stock worth $3,404,295,000 after buying an additional 2,262,845 shares during the period. Eastern Bank increased its stake in JPMorgan Chase & Co. by 8.8% in the second quarter. Eastern Bank now owns 352,552 shares of the financial services provider’s stock valued at $33,162,000 after purchasing an additional 28,642 shares during the last quarter. Vantage Investment Partners LLC increased its stake in JPMorgan Chase & Co. by 87.7% in the second quarter. Vantage Investment Partners LLC now owns 144,906 shares of the financial services provider’s stock valued at $13,630,000 after purchasing an additional 67,724 shares during the last quarter. Cerebellum GP LLC purchased a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $119,000. Finally, First Trust Advisors LP increased its stake in JPMorgan Chase & Co. by 6.1% in the second quarter. First Trust Advisors LP now owns 908,804 shares of the financial services provider’s stock valued at $85,482,000 after purchasing an additional 51,895 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

Several equities analysts have commented on JPM shares. BMO Capital Markets increased their price target on shares of JPMorgan Chase & Co. from $117.00 to $119.00 and gave the company a “market perform” rating in a research note on Wednesday, October 14th. Credit Suisse Group reiterated a “buy” rating and issued a $126.00 price target (up from $122.00) on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 14th. Keefe, Bruyette & Woods lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and increased their price target for the company from $125.00 to $130.00 in a research note on Wednesday. Morgan Stanley restated a “buy” rating and set a $106.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 27th. Finally, TheStreet upgraded shares of JPMorgan Chase & Co. from a “c” rating to a “b-” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $111.34.

In other news, CFO Jennifer Piepszak sold 3,297 shares of JPMorgan Chase & Co. stock in a transaction 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 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.

JPMorgan Chase & Co. stock opened at $114.57 on Friday. JPMorgan Chase & Co. has a one year low of $76.91 and a one year high of $141.10. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.88 and a current ratio of 0.88. The business has a fifty day moving average of $103.80 and a two-hundred day moving average of $99.04. The company has a market cap of $349.23 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Monday, October 19th. The financial services provider reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.69. The company had revenue of $29.90 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.68 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 7.47 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Monday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.

JPMorgan Chase & Co. Profile

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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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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