JPMorgan Chase & Co. (NYSE:JPM) Position Lowered by RFP Financial Group LLC

RFP Financial Group LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,886 shares of the financial services provider’s stock after selling 540 shares during the quarter. RFP Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Group LLC lifted its holdings in shares of 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 purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at $32,000. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $34,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $223.42 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.92. The firm’s 50 day simple moving average is $214.96 and its 200-day simple moving average is $205.09. 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 company has a market cap of $641.59 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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 firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.33 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 2.24%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company 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.