Diversify Wealth Management LLC Sells 965 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Diversify Wealth Management LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 16,163 shares of the financial services provider’s stock after selling 965 shares during the period. Diversify Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Associates Ltd. lifted its position in shares of JPMorgan Chase & Co. by 4.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 478,369 shares of the financial services provider’s stock worth $100,869,000 after purchasing an additional 21,355 shares during the period. Capstone Triton Financial Group LLC boosted its position in JPMorgan Chase & Co. by 4.2% during the third quarter. Capstone Triton Financial Group LLC now owns 5,146 shares of the financial services provider’s stock valued at $1,085,000 after acquiring an additional 209 shares during the last quarter. Twin Peaks Wealth Advisors LLC boosted its position in JPMorgan Chase & Co. by 11.3% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 2,124 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 215 shares during the last quarter. Edge Financial Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $1,622,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of JPMorgan Chase & Co. by 56.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 80,367 shares of the financial services provider’s stock valued at $18,081,000 after acquiring an additional 29,014 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of a number of research reports. Royal Bank of Canada raised their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Daiwa Capital Markets reduced 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. Evercore ISI upped their price target 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. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $222.81.

JPMorgan Chase & Co. Stock Up 0.5 %

JPM opened at $222.94 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $139.23 and a fifty-two week high of $226.75. The firm has a market capitalization of $627.65 billion, a P/E ratio of 12.41, a PEG ratio of 3.28 and a beta of 1.10. The company’s 50-day moving average is $216.15 and its 200 day moving average is $206.72. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.33 EPS. Research analysts expect that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.24%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

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.