Cassady Schiller Wealth Management LLC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Cassady Schiller Wealth Management LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,876 shares of the financial services provider’s stock after selling 266 shares during the quarter. Cassady Schiller Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $606,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. bought a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $27,000. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $32,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $34,000. Finally, West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. during the third quarter worth $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 1.0 %

JPMorgan Chase & Co. stock opened at $240.78 on Thursday. The stock has a 50-day moving average price of $221.48 and a 200 day moving average price of $211.13. JPMorgan Chase & Co. has a 52 week low of $152.57 and a 52 week high of $248.00. The stock has a market cap of $677.88 billion, a PE ratio of 13.40, a P/E/G ratio of 3.56 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly 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 company 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%. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.33 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Friday, October 4th. 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 27.82%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on JPM shares. Royal Bank of Canada increased their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research note on Thursday, November 7th. Finally, Barclays boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $229.31.

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.