Investment Research & Advisory Group Inc. Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Investment Research & Advisory Group Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 25,441 shares of the financial services provider’s stock after selling 345 shares during the quarter. JPMorgan Chase & Co. makes up 2.3% of Investment Research & Advisory Group Inc.’s holdings, making the stock its 11th largest holding. Investment Research & Advisory Group Inc.’s holdings in JPMorgan Chase & Co. were worth $5,364,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. DT Investment Partners LLC raised its position in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. DT Investment Partners LLC now owns 42,670 shares of the financial services provider’s stock worth $8,997,000 after purchasing an additional 332 shares during the last quarter. Global Trust Asset Management LLC raised its position in shares of JPMorgan Chase & Co. by 3.5% in the 3rd quarter. Global Trust Asset Management LLC now owns 10,029 shares of the financial services provider’s stock worth $2,115,000 after purchasing an additional 341 shares during the last quarter. Mcdaniel Terry & Co. raised its position in shares of JPMorgan Chase & Co. by 7.8% in the 3rd quarter. Mcdaniel Terry & Co. now owns 6,209 shares of the financial services provider’s stock worth $1,309,000 after purchasing an additional 450 shares during the last quarter. Fiduciary Planning LLC raised its position in shares of JPMorgan Chase & Co. by 1.2% in the 3rd quarter. Fiduciary Planning LLC now owns 4,693 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 57 shares during the last quarter. Finally, Commonwealth Financial Services LLC raised its position in shares of JPMorgan Chase & Co. by 13.0% in the 3rd quarter. Commonwealth Financial Services LLC now owns 15,243 shares of the financial services provider’s stock worth $3,156,000 after purchasing an additional 1,756 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JPM. Oppenheimer reduced their price objective on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Barclays lifted their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Daiwa Capital Markets reduced their price objective 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. Citigroup lifted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Trading Down 1.2 %

JPMorgan Chase & Co. stock opened at $222.31 on Monday. The firm has a 50 day moving average of $215.39 and a 200 day moving average of $205.52. The firm has a market capitalization of $638.40 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its 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. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.33 EPS. As a group, research analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.25%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

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.