JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,911 shares of the financial services provider’s stock after selling 184 shares during the period. JPMorgan Chase & Co. makes up about 2.3% of Heritage Wealth Management Inc.’s holdings, making the stock its 6th largest holding. Heritage Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $7,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $27,000. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the second quarter worth approximately $34,000. West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $37,000. Finally, New England Capital Financial Advisors LLC grew its holdings in JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 50 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $239.41 on Tuesday. The firm has a 50 day simple moving average of $217.24 and a 200-day simple moving average of $208.46. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $674.02 billion, a PE ratio of 13.32, a P/E/G ratio of 3.46 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $145.16 and a 1-year high of $248.00.

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 for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the prior year, the firm posted $4.33 EPS. The company’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on JPM shares. Daiwa Capital Markets decreased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Oppenheimer upped their price target on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $224.31.

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.