Hardin Capital Partners LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Hardin Capital Partners LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,635 shares of the financial services provider’s stock after selling 178 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of Hardin Capital Partners LLC’s portfolio, making the stock its 13th biggest holding. Hardin Capital Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of JPM. Retirement Group LLC boosted its stake in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. in the first quarter worth $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $223.23 on Tuesday. The stock has a market cap of $641.04 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 3.28 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The business has a 50-day simple moving average of $214.37 and a 200 day simple moving average of $204.77. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.33 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. 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 dividend on an annualized basis and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JPM. BMO Capital Markets upped their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Jefferies Financial Group increased their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Finally, Daiwa Capital Markets reduced their price objective on shares of 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. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

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.