Victory Capital Management Inc. Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Victory Capital Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,724,210 shares of the financial services provider’s stock after selling 100,793 shares during the period. JPMorgan Chase & Co. makes up approximately 0.6% of Victory Capital Management Inc.’s portfolio, making the stock its 16th biggest position. Victory Capital Management Inc. owned about 0.10% of JPMorgan Chase & Co. worth $574,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Henrickson Nauta Wealth Advisors Inc. grew its holdings in shares of JPMorgan Chase & Co. by 1.3% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.8% during the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after buying an additional 45 shares in the last quarter. West Wealth Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.6% during the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after buying an additional 46 shares in the last quarter. Delta Financial Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.3% during the third quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 46 shares in the last quarter. Finally, Instrumental Wealth LLC grew its holdings in shares of JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after buying an additional 47 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $245.31 on Monday. JPMorgan Chase & Co. has a twelve month low of $150.09 and a twelve month high of $248.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $690.63 billion, a PE ratio of 13.65, a P/E/G ratio of 3.56 and a beta of 1.10. The stock has a 50-day simple moving average of $219.50 and a 200 day simple moving average of $210.17.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the firm earned $4.33 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. 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 research report on Thursday, October 10th. Finally, Oppenheimer lifted their price objective on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Two equities research 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.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average target price of $227.13.

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.