New England Asset Management Inc. Sells 245 Shares of JPMorgan Chase & Co. (NYSE:JPM)

New England Asset Management Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 58,120 shares of the financial services provider’s stock after selling 245 shares during the quarter. JPMorgan Chase & Co. makes up 1.9% of New England Asset Management Inc.’s holdings, making the stock its 8th biggest holding. New England Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $12,255,000 at the end of the most recent quarter.

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

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $248.56 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market cap of $699.78 billion, a P/E ratio of 13.83, a P/E/G ratio of 3.53 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $152.71 and a 12-month high of $249.15. The stock’s 50 day simple moving average is $223.14 and its 200 day simple moving average is $211.76.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the business posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed 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 represents a $5.00 annualized dividend and a yield of 2.01%. The ex-dividend date 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 presently 27.82%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research note on Thursday, November 7th. Daiwa Capital Markets decreased their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Barclays upped 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $229.31.

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.