Lederer & Associates Investment Counsel CA Sells 4,671 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Lederer & Associates Investment Counsel CA cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 31.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,142 shares of the financial services provider’s stock after selling 4,671 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.5% of Lederer & Associates Investment Counsel CA’s investment portfolio, making the stock its 18th largest holding. Lederer & Associates Investment Counsel CA’s holdings in JPMorgan Chase & Co. were worth $2,139,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Capital International Investors boosted its holdings in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after purchasing an additional 778,297 shares during the period. Capital World Investors boosted its stake in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after buying an additional 150,812 shares during the period. Dimensional Fund Advisors LP grew its position in JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after buying an additional 1,040,594 shares in the last quarter. Capital Research Global Investors increased its stake in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $1,888,088,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on JPM. Daiwa Capital Markets cut 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 report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price target 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. Royal Bank of Canada lifted 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. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $221.92 on Friday. 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 one year low of $137.47 and a one year high of $226.75. The business’s 50 day simple moving average is $216.06 and its two-hundred day simple moving average is $206.26. The stock has a market capitalization of $631.40 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period last year, the firm earned $4.33 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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