Verity Asset Management Inc. Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Verity Asset Management Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,275 shares of the financial services provider’s stock after selling 130 shares during the quarter. Verity Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth $27,000. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $32,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. Finally, West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of several research reports. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a report on Thursday, November 7th. Oppenheimer upped 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, November 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $224.31.

JPMorgan Chase & Co. Stock Up 1.0 %

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

JPMorgan Chase & Co. (NYSE:JPM) last posted 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%. During the same period in the previous year, the firm posted $4.33 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date of this dividend 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 yield of 2.09%. JPMorgan Chase & Co.’s dividend payout ratio is 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.