New Millennium Group LLC Has $2.21 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

New Millennium Group LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 13.4% during the 3rd quarter, Holdings Channel reports. The fund owned 10,474 shares of the financial services provider’s stock after selling 1,614 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.4% of New Millennium Group LLC’s portfolio, making the stock its 19th biggest position. New Millennium Group LLC’s holdings in JPMorgan Chase & Co. were worth $2,208,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of JPM. Henrickson Nauta Wealth Advisors Inc. raised its stake in JPMorgan Chase & Co. by 1.3% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after buying an additional 45 shares during the period. Sunburst Financial Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.8% in the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after acquiring an additional 45 shares in the last quarter. West Wealth Group LLC raised its position 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 worth $280,000 after purchasing an additional 46 shares during the period. Delta Financial Advisors LLC raised its position 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 worth $3,272,000 after purchasing an additional 46 shares during the period. Finally, Instrumental Wealth LLC lifted its holdings in shares of JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 47 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JPM. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Citigroup increased their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird lowered 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. Finally, Barclays increased their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Trading Up 1.5 %

JPMorgan Chase & Co. stock opened at $248.55 on Friday. The stock has a 50-day simple moving average of $223.14 and a 200 day simple moving average of $211.90. The stock has a market capitalization of $699.75 billion, a P/E ratio of 13.83, a PEG ratio of 3.55 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 52 week low of $152.71 and a 52 week high of $249.15.

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, 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 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 previous year, the company posted $4.33 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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 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 2.01%. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.