JPMorgan Chase & Co. (NYSE:JPM) is Sitrin Capital Management LLC’s 5th Largest Position

Sitrin Capital Management LLC lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,612 shares of the financial services provider’s stock after selling 196 shares during the quarter. JPMorgan Chase & Co. comprises 3.9% of Sitrin Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Sitrin Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,720,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Retirement Group LLC lifted its stake in shares of 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 bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $32,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $34,000. Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $37,000. Finally, West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.4 %

Shares of NYSE:JPM opened at $219.78 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $142.79 and a 12-month high of $226.75. The business’s fifty day simple moving average is $216.17 and its 200-day simple moving average is $207.18. The company has a market capitalization of $618.76 billion, a PE ratio of 12.23, a P/E/G ratio of 3.24 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27.

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, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period last year, the business posted $4.33 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict 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 announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.28%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on JPM shares. Royal Bank of Canada raised 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. StockNews.com raised 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 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. Barclays raised their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets raised their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $222.81.

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.