WASHINGTON TRUST Co Sells 6,695 Shares of JPMorgan Chase & Co. (NYSE:JPM)

WASHINGTON TRUST Co trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 194,828 shares of the financial services provider’s stock after selling 6,695 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.4% of WASHINGTON TRUST Co’s holdings, making the stock its 17th biggest holding. WASHINGTON TRUST Co’s holdings in JPMorgan Chase & Co. were worth $41,081,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in JPM. International Assets Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $1,888,088,000. Swedbank AB bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $800,130,000. Capital Research Global Investors lifted its holdings in shares of JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. lifted its holdings in shares of JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares during the last quarter. Finally, Granite Bay Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after acquiring an additional 1,396,194 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

JPM has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Royal Bank of Canada upped their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Finally, Keefe, Bruyette & Woods upped 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 report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $222.81.

JPMorgan Chase & Co. Stock Up 0.5 %

Shares of JPMorgan Chase & Co. stock opened at $222.94 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27. The company’s fifty day simple moving average is $216.15 and its two-hundred day simple moving average is $206.72. The company has a market cap of $627.65 billion, a P/E ratio of 12.41, a PEG ratio of 3.28 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $139.23 and a 12-month high of $226.75.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate 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 revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.33 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 17.52 EPS for the current 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 $1.25 dividend. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.