JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Absher Wealth Management LLC

Absher Wealth Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the third quarter, Holdings Channel.com reports. The fund owned 129,455 shares of the financial services provider’s stock after selling 839 shares during the period. JPMorgan Chase & Co. accounts for about 3.5% of Absher Wealth Management LLC’s holdings, making the stock its 12th biggest holding. Absher Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $27,297,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Henrickson Nauta Wealth Advisors Inc. grew its position in JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 45 shares during the last quarter. Sunburst Financial Group LLC boosted its position in shares of JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after acquiring an additional 45 shares in the last quarter. West Wealth Group LLC boosted its position in shares of JPMorgan Chase & Co. by 3.6% during the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 46 shares in the last quarter. Instrumental Wealth LLC boosted its position in shares of JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 47 shares in the last quarter. Finally, Gemmer Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.6% during the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.4 %

Shares of NYSE JPM opened at $219.78 on Tuesday. JPMorgan Chase & Co. has a 1-year low of $142.79 and a 1-year high of $226.75. The company has a market cap of $618.76 billion, a PE ratio of 12.23, a P/E/G ratio of 3.24 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average of $216.17 and a two-hundred day moving average of $207.18.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company 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 company’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.33 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.28%. This is an increase 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%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JPM. BMO Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $222.81.

JPMorgan Chase & Co. Company Profile

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.