Kirtland Hills Capital Management LLC Sells 576 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Kirtland Hills Capital Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 12.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,210 shares of the financial services provider’s stock after selling 576 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $888,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. in the third quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth $27,000. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter worth $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. Finally, West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the third quarter valued at about $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.5 %

Shares of JPMorgan Chase & Co. stock opened at $248.55 on Friday. The firm has a 50-day simple moving average of $223.14 and a two-hundred day simple moving average of $211.90. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $152.71 and a fifty-two week high of $249.15. The company has a market cap of $699.75 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly 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. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the firm posted $4.33 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.01%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Analyst Ratings Changes

Several research firms have recently issued reports on JPM. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Citigroup raised their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $220.00 to $224.00 in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $229.31.

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.