Corundum Group Inc. Sells 3,361 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Corundum Group Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 24.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,133 shares of the financial services provider’s stock after selling 3,361 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.0% of Corundum Group Inc.’s investment portfolio, making the stock its 21st biggest holding. Corundum Group Inc.’s holdings in JPMorgan Chase & Co. were worth $2,137,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of JPM. Retirement Group LLC boosted its position in JPMorgan Chase & Co. by 227.1% in 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 during the last quarter. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $32,000. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $34,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $37,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $224.18 on Wednesday. The company’s 50-day moving average price is $214.69 and its 200-day moving average price is $204.96. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market cap of $643.76 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.33 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JPM. Wells Fargo & Company increased their price objective 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. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Oppenheimer lowered their price objective on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. 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. Finally, Royal Bank of Canada boosted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Company 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.