Logan Capital Management Inc. Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Logan Capital Management Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 12.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,286 shares of the financial services provider’s stock after selling 16,621 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.0% of Logan Capital Management Inc.’s holdings, making the stock its 23rd biggest position. Logan Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $23,677,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Eagle Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Eagle Capital Management LLC now owns 21,867 shares of the financial services provider’s stock worth $4,423,000 after acquiring an additional 84 shares during the period. Corundum Group Inc. increased its stake in JPMorgan Chase & Co. by 30.9% during the second quarter. Corundum Group Inc. now owns 13,494 shares of the financial services provider’s stock valued at $2,729,000 after purchasing an additional 3,185 shares during the last quarter. High Net Worth Advisory Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 3.9% during the second quarter. High Net Worth Advisory Group LLC now owns 13,083 shares of the financial services provider’s stock worth $2,646,000 after purchasing an additional 492 shares during the period. Red Door Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 4.8% in the 2nd quarter. Red Door Wealth Management LLC now owns 62,071 shares of the financial services provider’s stock worth $12,554,000 after purchasing an additional 2,866 shares during the last quarter. Finally, Blackston Financial Advisory Group LLC grew its position in shares of JPMorgan Chase & Co. by 367.4% during the second quarter. Blackston Financial Advisory Group LLC now owns 5,085 shares of the financial services provider’s stock worth $1,028,000 after acquiring an additional 3,997 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 0.3 %

JPM stock traded down $0.76 during trading on Friday, hitting $240.77. The company had a trading volume of 467,254 shares, compared to its average volume of 8,951,485. The stock has a market cap of $677.85 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $161.71 and a 12 month high of $254.31. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average price of $233.51 and a 200-day moving average price of $216.37.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.33 earnings per share. As a group, analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared 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. This represents a $5.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Analysts Set New Price Targets

A number of research firms have recently commented on JPM. Barclays boosted their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Royal Bank of Canada increased their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods boosted their target price on 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $234.81.

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.