Oak Asset Management LLC Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Oak Asset Management LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,218 shares of the financial services provider’s stock after selling 706 shares during the quarter. JPMorgan Chase & Co. makes up about 1.4% of Oak Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding. Oak Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,841,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of JPM. Retirement Group LLC lifted its holdings in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Oppenheimer increased their target price on JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. BMO Capital Markets increased their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Citigroup increased their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group raised their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $212.13.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock traded down $0.32 on Monday, reaching $210.90. The stock had a trading volume of 6,716,137 shares, compared to its average volume of 9,135,429. The stock has a market cap of $605.63 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50 day simple moving average of $211.30 and a 200 day simple moving average of $203.14.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period last year, the business posted $4.37 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid 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 2.37%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

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.