GSB Wealth Management LLC Sells 665 Shares of JPMorgan Chase & Co. (NYSE:JPM)

GSB Wealth Management LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 15,298 shares of the financial services provider’s stock after selling 665 shares during the quarter. GSB Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,226,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital International Investors increased its holdings in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after acquiring an additional 778,297 shares in the last quarter. Capital World Investors grew its holdings in JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after buying an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after buying an additional 1,040,594 shares in the last quarter. Capital Research Global Investors grew its holdings in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after buying an additional 3,252,451 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at approximately $1,888,088,000. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup increased their target price 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. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $222.81.

JPMorgan Chase & Co. Trading Up 0.5 %

JPM opened at $222.94 on Friday. The firm has a market cap of $627.65 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 3.28 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $139.23 and a 52 week high of $226.75. The business’s 50 day moving average is $216.15 and its two-hundred day moving average is $206.72. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.33 earnings per share. On average, research analysts predict that JPMorgan Chase & Co. will post 17.52 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.