JPMorgan Chase & Co. (NYSE:JPM) Holdings Cut by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 19.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 240,256 shares of the financial services provider’s stock after selling 58,879 shares during the period. Ceredex Value Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $50,660,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. BCGM Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 2.8% during the 1st quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock worth $3,818,000 after purchasing an additional 516 shares during the last quarter. Accredited Investors Inc. boosted its holdings in JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after purchasing an additional 667 shares in the last quarter. Bleakley Financial Group LLC increased its position in JPMorgan Chase & Co. by 1.4% during the first quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock worth $17,439,000 after buying an additional 1,173 shares during the last quarter. Sunburst Financial Group LLC raised its holdings in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after buying an additional 268 shares in the last quarter. Finally, Sageworth Trust Co lifted its position in shares of JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after buying an additional 786 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on JPM shares. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Barclays increased their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Oppenheimer boosted their price objective on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada boosted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.38.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $221.58 on Wednesday. JPMorgan Chase & Co. has a 12 month low of $142.79 and a 12 month high of $226.75. The company has a market capitalization of $623.82 billion, a P/E ratio of 12.33, a P/E/G ratio of 3.25 and a beta of 1.10. The stock has a 50 day moving average of $216.19 and a two-hundred day moving average of $207.43. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $41.43 billion. During the same period in the prior year, the company posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 17.52 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.