Financial Insights Inc. Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Financial Insights Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 46.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,440 shares of the financial services provider’s stock after selling 5,549 shares during the period. Financial Insights Inc.’s holdings in JPMorgan Chase & Co. were worth $1,358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BLB&B Advisors LLC lifted its position in JPMorgan Chase & Co. by 2.8% in the 3rd quarter. BLB&B Advisors LLC now owns 130,783 shares of the financial services provider’s stock worth $27,577,000 after buying an additional 3,534 shares during the last quarter. Tempus Wealth Planning LLC raised its stake in shares of JPMorgan Chase & Co. by 10.5% during the third quarter. Tempus Wealth Planning LLC now owns 10,529 shares of the financial services provider’s stock worth $2,220,000 after acquiring an additional 999 shares in the last quarter. Stanley Laman Group Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 4.3% in the 3rd quarter. Stanley Laman Group Ltd. now owns 11,410 shares of the financial services provider’s stock worth $2,406,000 after acquiring an additional 474 shares during the last quarter. Alexander Labrunerie & CO. Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Alexander Labrunerie & CO. Inc. now owns 34,038 shares of the financial services provider’s stock valued at $7,177,000 after purchasing an additional 305 shares in the last quarter. Finally, Pictet North America Advisors SA grew its holdings in shares of JPMorgan Chase & Co. by 1.1% during the 3rd quarter. Pictet North America Advisors SA now owns 81,007 shares of the financial services provider’s stock valued at $17,081,000 after purchasing an additional 882 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Citigroup boosted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $224.98 on Friday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.92. The company’s 50-day moving average is $214.96 and its 200 day moving average is $205.09. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $646.07 billion, a P/E ratio of 12.55, a P/E/G ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.33 earnings per share. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

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.