Victory Capital Management Inc. Sells 100,793 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Victory Capital Management Inc. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,724,210 shares of the financial services provider’s stock after selling 100,793 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.6% of Victory Capital Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Victory Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $574,427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $32,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $34,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $37,000. Finally, New England Capital Financial Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares during the period. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 1.4 %

NYSE:JPM opened at $245.31 on Monday. The stock’s fifty day moving average price is $219.50 and its two-hundred day moving average price is $210.17. JPMorgan Chase & Co. has a 52-week low of $150.09 and a 52-week high of $248.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $690.63 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.33 EPS. On average, analysts anticipate that JPMorgan Chase & Co. will post 17.62 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 paid a $1.25 dividend. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada boosted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Oppenheimer boosted their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $227.13.

JPMorgan Chase & Co. 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.