Foster Group Inc. Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Foster Group Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,293 shares of the financial services provider’s stock after selling 526 shares during the period. Foster Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Intrepid Capital Management Inc. lifted its stake in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Intrepid Capital Management Inc. now owns 1,178 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 60 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its stake in JPMorgan Chase & Co. by 3.7% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 253,720 shares of the financial services provider’s stock valued at $43,158,000 after purchasing an additional 9,136 shares during the last quarter. Regal Investment Advisors LLC lifted its stake in JPMorgan Chase & Co. by 36.6% in the fourth quarter. Regal Investment Advisors LLC now owns 32,381 shares of the financial services provider’s stock valued at $5,508,000 after purchasing an additional 8,677 shares during the last quarter. Sollinda Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $341,000. Finally, Allen Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $492,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.2 %

JPMorgan Chase & Co. stock traded down $0.32 during trading hours on Monday, hitting $210.90. 6,716,137 shares of the stock traded hands, compared to its average volume of 9,135,429. The firm’s 50-day moving average price is $211.30 and its two-hundred day moving average price is $203.14. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market cap of $605.63 billion, a PE ratio of 11.76, a PEG ratio of 2.39 and a beta of 1.11. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $4.37 EPS. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.37%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Wall Street Analyst Weigh In

Several research firms recently commented on JPM. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.13.

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.