Aviance Capital Partners LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Aviance Capital Partners LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,490 shares of the financial services provider’s stock after selling 624 shares during the period. JPMorgan Chase & Co. makes up about 2.3% of Aviance Capital Partners LLC’s portfolio, making the stock its 8th largest holding. Aviance Capital Partners LLC’s holdings in JPMorgan Chase & Co. were worth $17,601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in JPM. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $27,000. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent analyst reports. Daiwa Capital Markets cut their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup boosted their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada increased their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $248.56 on Friday. The business has a 50-day moving average of $223.14 and a 200-day moving average of $211.76. 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 company has a market capitalization of $699.78 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 3.53 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $249.15.

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 firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter last year, the business earned $4.33 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared 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 was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.01%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. 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.