Icon Wealth Advisors LLC Sells 28,607 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Icon Wealth Advisors LLC trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 94.3% in the third quarter, HoldingsChannel reports. The firm owned 1,722 shares of the financial services provider’s stock after selling 28,607 shares during the quarter. Icon Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. WFA Asset Management Corp raised its holdings in JPMorgan Chase & Co. by 51.2% in the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 412 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $1,185,000. Ascent Group LLC increased its stake in shares of JPMorgan Chase & Co. by 2.4% during the first quarter. Ascent Group LLC now owns 48,564 shares of the financial services provider’s stock worth $9,727,000 after purchasing an additional 1,132 shares during the period. Lavaca Capital LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $202,000. Finally, Zurich Insurance Group Ltd FI boosted its stake in JPMorgan Chase & Co. by 90.9% in the 1st quarter. Zurich Insurance Group Ltd FI now owns 1,103,098 shares of the financial services provider’s stock valued at $220,951,000 after purchasing an additional 525,383 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JPM has been the subject of a number of research reports. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Up 0.7 %

Shares of NYSE JPM opened at $250.29 on Tuesday. The stock has a 50-day moving average price of $223.99 and a two-hundred day moving average price of $212.38. JPMorgan Chase & Co. has a 12 month low of $152.71 and a 12 month high of $254.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market cap of $704.65 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 3.61 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. The business 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 firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.33 EPS. As a group, analysts forecast 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. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

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.