Greenwich Wealth Management LLC Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Greenwich Wealth Management LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,710 shares of the financial services provider’s stock after selling 301 shares during the period. Greenwich Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,571,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in JPM. Retirement Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $37,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $40,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $210.48 on Friday. The business’s 50 day simple moving average is $211.49 and its 200-day simple moving average is $201.47. The firm has a market capitalization of $604.43 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the previous year, the company earned $4.37 EPS. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.38%. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Oppenheimer boosted their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Morgan Stanley dropped their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, Barclays boosted their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Company 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.