Sky Investment Group LLC Sells 63 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sky Investment Group LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,718 shares of the financial services provider’s stock after selling 63 shares during the period. Sky Investment Group LLC’s holdings in JPMorgan Chase & Co. were worth $2,049,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Worth Asset Management LLC boosted its stake in JPMorgan Chase & Co. by 29.1% during the 1st quarter. Worth Asset Management LLC now owns 2,079 shares of the financial services provider’s stock valued at $416,000 after purchasing an additional 468 shares during the last quarter. CGN Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% in the first quarter. CGN Advisors LLC now owns 17,490 shares of the financial services provider’s stock worth $3,503,000 after buying an additional 101 shares during the last quarter. Strategic Planning Group LLC increased its holdings in JPMorgan Chase & Co. by 15.3% during the first quarter. Strategic Planning Group LLC now owns 24,354 shares of the financial services provider’s stock valued at $4,878,000 after buying an additional 3,233 shares during the last quarter. Strong Tower Advisory Services increased its holdings in JPMorgan Chase & Co. by 10.1% during the first quarter. Strong Tower Advisory Services now owns 6,548 shares of the financial services provider’s stock valued at $1,303,000 after buying an additional 601 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 4,983 shares of the financial services provider’s stock worth $998,000 after acquiring an additional 244 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.3 %

Shares of JPM opened at $223.42 on Thursday. The stock has a market capitalization of $641.59 billion, a PE ratio of 12.46, a P/E/G ratio of 3.28 and a beta of 1.11. The company’s fifty day moving average is $214.96 and its 200 day moving average is $205.09. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the firm earned $4.33 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Citigroup lifted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada upped their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

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.