Ameritas Advisory Services LLC Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Ameritas Advisory Services LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 27.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,401 shares of the financial services provider’s stock after selling 12,875 shares during the quarter. Ameritas Advisory Services LLC’s holdings in JPMorgan Chase & Co. were worth $7,254,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Henrickson Nauta Wealth Advisors Inc. raised its holdings in JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after acquiring an additional 45 shares during the last quarter. Sunburst Financial Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.8% in the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 45 shares during the last quarter. West Wealth Group LLC lifted its position in JPMorgan Chase & Co. by 3.6% during the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after buying an additional 46 shares in the last quarter. Instrumental Wealth LLC boosted its stake in JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after buying an additional 47 shares during the last quarter. Finally, Prossimo Advisors LLC grew its holdings in JPMorgan Chase & Co. by 0.5% in the 3rd quarter. Prossimo Advisors LLC now owns 8,740 shares of the financial services provider’s stock valued at $1,843,000 after buying an additional 47 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Oppenheimer boosted their price target on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank of Canada increased 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 note on Monday, October 14th. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday. Finally, Daiwa Capital Markets decreased their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $224.31.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $237.06 on Friday. The company has a market cap of $667.40 billion, a P/E ratio of 13.19, a PEG ratio of 3.21 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $143.70 and a fifty-two week high of $248.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm’s 50 day moving average price is $217.24 and its 200 day moving average price is $208.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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 business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.33 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.11%. 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 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.