WealthPLAN Partners LLC Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

WealthPLAN Partners LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,321 shares of the financial services provider’s stock after selling 3,922 shares during the period. WealthPLAN Partners LLC’s holdings in JPMorgan Chase & Co. were worth $5,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of JPM. WFA Asset Management Corp lifted its holdings in shares of JPMorgan Chase & Co. by 51.2% in the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 412 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter worth approximately $1,185,000. Hoey Investments Inc. raised its holdings in shares of JPMorgan Chase & Co. by 5.9% in the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock worth $4,482,000 after buying an additional 1,247 shares during the period. QRG Capital Management Inc. lifted its stake in shares of JPMorgan Chase & Co. by 5.5% during the 1st quarter. QRG Capital Management Inc. now owns 435,455 shares of the financial services provider’s stock worth $87,222,000 after acquiring an additional 22,783 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in JPMorgan Chase & Co. by 4.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,861,761 shares of the financial services provider’s stock valued at $372,810,000 after acquiring an additional 84,173 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 1.4 %

Shares of JPMorgan Chase & Co. stock opened at $245.31 on Friday. 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 company has a market cap of $690.63 billion, a P/E ratio of 13.65, a PEG ratio of 3.50 and a beta of 1.10. The firm’s 50 day moving average price is $219.50 and its 200-day moving average price is $209.92. JPMorgan Chase & Co. has a 52-week low of $150.09 and a 52-week high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. 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 previous year, the company earned $4.33 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 EPS 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 given a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.04%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday. Barclays raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Finally, Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $227.13.

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.