Capital Investment Counsel Inc Sells 1,201 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Capital Investment Counsel Inc lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 16.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,281 shares of the financial services provider’s stock after selling 1,201 shares during the quarter. Capital Investment Counsel Inc’s holdings in JPMorgan Chase & Co. were worth $1,324,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of JPM. Axecap Investments LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at $2,252,000. McAdam LLC boosted its holdings in JPMorgan Chase & Co. by 8.1% during the 3rd quarter. McAdam LLC now owns 4,259 shares of the financial services provider’s stock valued at $898,000 after acquiring an additional 320 shares during the period. RAM Investment Partners LLC boosted its holdings in JPMorgan Chase & Co. by 5.3% during the 3rd quarter. RAM Investment Partners LLC now owns 1,777 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 90 shares during the period. Wallington Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 42.6% during the 3rd quarter. Wallington Asset Management LLC now owns 4,983 shares of the financial services provider’s stock valued at $1,051,000 after acquiring an additional 1,489 shares during the period. Finally, Iron Horse Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 208.0% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 1,155 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 780 shares during the period. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent analyst reports. Oppenheimer dropped their price objective on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Jefferies Financial Group upped their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Citigroup upped their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Trading Down 1.2 %

JPM opened at $222.28 on Friday. The firm has a market cap of $638.31 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.92. The stock has a fifty day moving average price of $215.23 and a 200-day moving average price of $205.23.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the prior year, the company posted $4.33 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities research 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 announced 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 is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio 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.