Planning Capital Management Corp Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Planning Capital Management Corp trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 37.0% in the 3rd quarter, Holdings Channel reports. The firm owned 1,846 shares of the financial services provider’s stock after selling 1,086 shares during the period. Planning Capital Management Corp’s holdings in JPMorgan Chase & Co. were worth $389,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Zions Bancorporation N.A. grew its stake in JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after acquiring an additional 267 shares in the last quarter. KBC Group NV boosted its holdings in shares of JPMorgan Chase & Co. by 48.9% during the 3rd quarter. KBC Group NV now owns 1,560,884 shares of the financial services provider’s stock worth $329,129,000 after purchasing an additional 512,774 shares during the last quarter. Summit Asset Management LLC grew its position in shares of JPMorgan Chase & Co. by 15.5% in the third quarter. Summit Asset Management LLC now owns 8,958 shares of the financial services provider’s stock valued at $1,889,000 after purchasing an additional 1,200 shares in the last quarter. BCM Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 382.1% in the third quarter. BCM Advisors LLC now owns 6,099 shares of the financial services provider’s stock valued at $1,340,000 after purchasing an additional 4,834 shares during the last quarter. Finally, ROI Financial Advisors LLC lifted its position in JPMorgan Chase & Co. by 10.5% during the third quarter. ROI Financial Advisors LLC now owns 6,227 shares of the financial services provider’s stock worth $1,313,000 after buying an additional 591 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 0.1 %

JPM opened at $245.18 on Tuesday. The business has a fifty day moving average price of $220.06 and a 200 day moving average price of $210.55. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 12 month low of $151.92 and a 12 month high of $248.00. The stock has a market capitalization of $690.27 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the company posted $4.33 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side 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 disclosed 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 2.04%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on JPM shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research report on Thursday, November 7th. Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Daiwa Capital Markets decreased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $227.13.

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.