Burns J W & Co. Inc. NY Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Burns J W & Co. Inc. NY lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 76,437 shares of the financial services provider’s stock after selling 877 shares during the quarter. JPMorgan Chase & Co. makes up 2.1% of Burns J W & Co. Inc. NY’s portfolio, making the stock its 9th biggest holding. Burns J W & Co. Inc. NY’s holdings in JPMorgan Chase & Co. were worth $16,118,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in JPM. Retirement Group LLC lifted its position in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. during the second quarter valued at $32,000. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the first quarter valued at $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the second quarter valued at $34,000. Finally, Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. during the first quarter valued at $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on JPM shares. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. BMO Capital Markets lifted their price target 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. Citigroup lifted their price target 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, Barclays lifted their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.13.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $7.20 during trading hours on Friday, reaching $211.22. 10,213,415 shares of the stock traded hands, compared to its average volume of 9,148,031. The company has a 50 day moving average price of $211.30 and a 200 day moving average price of $203.03. The firm has a market capitalization of $606.55 billion, a price-to-earnings ratio of 11.78, a P/E/G 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. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

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, beating analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during 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 in the previous year, the company posted $4.37 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. 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%. JPMorgan Chase & Co.’s payout ratio is 27.89%.

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.