JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Arvest Investments Inc.

Arvest Investments Inc. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,328 shares of the financial services provider’s stock after selling 2,990 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.2% of Arvest Investments Inc.’s holdings, making the stock its 23rd largest position. Arvest Investments Inc.’s holdings in JPMorgan Chase & Co. were worth $7,871,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in JPM. WFA Asset Management Corp lifted its position in JPMorgan Chase & Co. by 51.2% in the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 412 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $1,185,000. Hoey Investments Inc. boosted its position in shares of JPMorgan Chase & Co. by 5.9% during the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock worth $4,482,000 after buying an additional 1,247 shares during the period. Empowered Funds LLC grew its holdings in JPMorgan Chase & Co. by 8.2% in the 1st quarter. Empowered Funds LLC now owns 91,066 shares of the financial services provider’s stock worth $18,241,000 after buying an additional 6,907 shares in the last quarter. Finally, Lipe & Dalton increased its position in JPMorgan Chase & Co. by 17.6% in the 1st quarter. Lipe & Dalton now owns 1,800 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 270 shares during the period. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.3 %

JPM stock opened at $241.93 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $681.12 billion, a P/E ratio of 13.46, a P/E/G ratio of 3.48 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $148.46 and a 52-week high of $248.00. The company’s 50 day simple moving average is $218.35 and its 200-day simple moving average is $209.33.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.33 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, October 4th. 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%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JPM. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Daiwa Capital Markets dropped their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $224.31.

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.