Old Port Advisors Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Old Port Advisors decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,242 shares of the financial services provider’s stock after selling 412 shares during the period. JPMorgan Chase & Co. comprises approximately 1.6% of Old Port Advisors’ investment portfolio, making the stock its 11th largest holding. Old Port Advisors’ holdings in JPMorgan Chase & Co. were worth $5,744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Retirement Group LLC raised its stake in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $34,000. Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at $37,000. Finally, West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $221.92 on Friday. The stock has a 50-day simple moving average of $216.06 and a 200-day simple moving average of $206.26. 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 stock has a market capitalization of $631.40 billion, a PE ratio of 12.35, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $137.47 and a 1 year high of $226.75.

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 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 business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.33 EPS. On average, analysts predict 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 was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent research reports. Royal Bank of Canada increased their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Evercore ISI raised their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Daiwa Capital Markets cut their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Oppenheimer cut their target price on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.