Courier Capital LLC Sells 511 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Courier Capital LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,606 shares of the financial services provider’s stock after selling 511 shares during the quarter. JPMorgan Chase & Co. makes up about 1.3% of Courier Capital LLC’s holdings, making the stock its 16th biggest holding. Courier Capital LLC’s holdings in JPMorgan Chase & Co. were worth $19,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 208.0% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 1,155 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 780 shares in the last quarter. Detalus Advisors LLC raised its holdings in JPMorgan Chase & Co. by 5.5% in the 3rd quarter. Detalus Advisors LLC now owns 2,799 shares of the financial services provider’s stock worth $590,000 after purchasing an additional 146 shares in the last quarter. Searle & CO. raised its holdings in JPMorgan Chase & Co. by 8.3% in the 3rd quarter. Searle & CO. now owns 304,242 shares of the financial services provider’s stock worth $64,152,000 after purchasing an additional 23,300 shares in the last quarter. Sterling Investment Counsel LLC raised its holdings in JPMorgan Chase & Co. by 10.4% in the 3rd quarter. Sterling Investment Counsel LLC now owns 16,737 shares of the financial services provider’s stock worth $3,529,000 after purchasing an additional 1,573 shares in the last quarter. Finally, Altus Wealth Group LLC raised its holdings in JPMorgan Chase & Co. by 9.5% in the 3rd quarter. Altus Wealth Group LLC now owns 7,695 shares of the financial services provider’s stock worth $1,623,000 after purchasing an additional 668 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays upped their target price 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. Royal Bank of Canada upped their target price 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. 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. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $222.28 on Friday. The firm’s 50 day moving average price is $215.23 and its 200-day moving average price is $205.23. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.92. 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 stock has a market capitalization of $638.31 billion, a PE ratio of 12.40, 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 data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (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 business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same period last year, the firm posted $4.33 EPS. The company’s revenue was up 6.5% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.25%. 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%.

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.