JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,880 shares of the financial services provider’s stock after selling 268 shares during the period. JPMorgan Chase & Co. comprises approximately 0.5% of Bruce G. Allen Investments LLC’s investment portfolio, making the stock its 26th biggest position. Bruce G. Allen Investments LLC’s holdings in JPMorgan Chase & Co. were worth $607,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Retirement Group LLC increased its stake in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $32,000. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $213.41 on Thursday. The firm has a 50 day simple moving average of $211.21 and a 200-day simple moving average of $203.32. 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 current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $612.84 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results 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. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the prior year, the company posted $4.37 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research reports. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Oppenheimer boosted their target price on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Finally, Barclays upped their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.13.

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.