Rebalance LLC Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Rebalance LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,527 shares of the financial services provider’s stock after selling 123 shares during the quarter. Rebalance LLC’s holdings in JPMorgan Chase & Co. were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Henrickson Nauta Wealth Advisors Inc. increased 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 worth $725,000 after purchasing an additional 45 shares during the period. Instrumental Wealth LLC increased its stake 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 worth $230,000 after acquiring an additional 47 shares during the last quarter. Gemmer Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 48 shares in the last quarter. Great Point Wealth Advisors LLC raised its holdings 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 valued at $1,151,000 after acquiring an additional 48 shares in 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 valued at $744,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.2 %

Shares of NYSE JPM opened at $222.28 on Friday. The firm’s fifty day moving average is $215.23 and its 200 day moving average is $205.23. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week 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 company 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.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates 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 revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.33 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share 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. Shareholders 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. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.25%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on JPM. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Daiwa Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 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 presently 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.