Westchester Capital Management Inc. Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Westchester Capital Management Inc. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,665 shares of the financial services provider’s stock after selling 2,825 shares during the quarter. JPMorgan Chase & Co. makes up approximately 4.6% of Westchester Capital Management Inc.’s portfolio, making the stock its 7th largest holding. Westchester Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $18,907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of JPM. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth $27,000. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the second quarter worth $32,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the second quarter worth $34,000. West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth $37,000. Finally, New England Capital Financial Advisors LLC boosted its stake in JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after buying an additional 50 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on JPM shares. Oppenheimer lifted their price target on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada lifted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $224.31.

JPMorgan Chase & Co. Stock Up 0.7 %

Shares of NYSE JPM opened at $241.24 on Thursday. The firm’s 50-day simple moving average is $217.92 and its 200 day simple moving average is $209.11. The company has a market cap of $679.17 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12-month low of $146.52 and a 12-month high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. The business 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 firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.33 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 17.62 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. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.07%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

JPMorgan Chase & Co. 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.