Modera Wealth Management LLC Sells 6,468 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Modera Wealth Management LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,776 shares of the financial services provider’s stock after selling 6,468 shares during the quarter. Modera Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $49,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BCGM Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 2.8% in the first quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock valued at $3,818,000 after acquiring an additional 516 shares during the period. Accredited Investors Inc. increased its stake in JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after acquiring an additional 667 shares during the period. Bleakley Financial Group LLC increased its stake in JPMorgan Chase & Co. by 1.4% in the first quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock valued at $17,439,000 after acquiring an additional 1,173 shares during the period. Sunburst Financial Group LLC increased its stake in JPMorgan Chase & Co. by 5.0% in the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 268 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in JPMorgan Chase & Co. by 6.6% in the first quarter. Daiwa Securities Group Inc. now owns 370,120 shares of the financial services provider’s stock valued at $74,135,000 after acquiring an additional 22,923 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.2 %

Shares of NYSE:JPM opened at $222.90 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $136.04 and a 52 week high of $226.75. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $640.09 billion, a PE ratio of 12.43, a PEG ratio of 3.28 and a beta of 1.11. The company has a 50 day moving average price of $215.76 and a two-hundred day moving average price of $206.02.

JPMorgan Chase & Co. (NYSE:JPM) last issued its 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. 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 in the prior year, the firm earned $4.33 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

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.