JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Xcel Wealth Management LLC

Xcel Wealth Management LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,193 shares of the financial services provider’s stock after selling 2,232 shares during the quarter. JPMorgan Chase & Co. accounts for about 3.3% of Xcel Wealth Management LLC’s holdings, making the stock its 7th biggest holding. Xcel Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $11,216,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 1.3% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after buying an additional 45 shares during the period. Instrumental Wealth LLC lifted its holdings in JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 47 shares during the last quarter. Gemmer Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.6% during the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after purchasing an additional 48 shares in the last quarter. Great Point Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 0.9% in the 2nd quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after purchasing an additional 48 shares during the last quarter. Finally, Braun Bostich & Associates Inc. raised its holdings in shares of JPMorgan Chase & Co. by 1.4% in the 3rd quarter. Braun Bostich & Associates Inc. now owns 3,530 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research reports. Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Jefferies Financial Group upped their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $224.98 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.92. The business’s 50-day moving average price is $214.96 and its two-hundred day moving average price is $205.09. The company has a market capitalization of $646.07 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

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 the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion during 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 quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.33 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

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.