Granite Group Advisors LLC Sells 1,977 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Granite Group Advisors LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,561 shares of the financial services provider’s stock after selling 1,977 shares during the quarter. JPMorgan Chase & Co. makes up 1.7% of Granite Group Advisors LLC’s portfolio, making the stock its 11th largest position. Granite Group Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,649,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of JPM. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth $1,888,088,000. Swedbank AB acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $800,130,000. Capital Research Global Investors lifted its position in JPMorgan Chase & Co. by 23.3% during the first 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 last quarter. Wulff Hansen & CO. boosted its holdings in shares of JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares during the period. Finally, Granite Bay Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 6,239.1% in the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after purchasing an additional 1,396,194 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JPM has been the subject of several research reports. Oppenheimer lifted their price target on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. 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 report on Thursday, October 10th. Finally, Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $224.31.

JPMorgan Chase & Co. Trading Up 0.1 %

Shares of JPMorgan Chase & Co. stock opened at $239.58 on Wednesday. The firm’s 50 day moving average is $217.53 and its 200 day moving average is $208.78. The firm has a market capitalization of $674.50 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $145.16 and a 1 year high of $248.00. 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 announced its quarterly 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 net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the business earned $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.