Proffitt & Goodson Inc. Sells 109 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Proffitt & Goodson Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the third quarter, Holdings Channel reports. The firm owned 7,950 shares of the financial services provider’s stock after selling 109 shares during the quarter. Proffitt & Goodson Inc.’s holdings in JPMorgan Chase & Co. were worth $1,676,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of JPM. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter worth $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $32,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $34,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter worth $37,000. Finally, New England Capital Financial Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 50 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $245.39 on Friday. The stock’s 50-day simple moving average is $218.84 and its 200-day simple moving average is $209.56. JPMorgan Chase & Co. has a 52 week low of $150.09 and a 52 week high of $248.00. The company has a market capitalization of $690.86 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 3.50 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company 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 firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.33 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. 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 2.04%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on JPM shares. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday. Daiwa Capital Markets lowered their target price on 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. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $227.13.

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.