Icon Wealth Advisors LLC Sells 28,607 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Icon Wealth Advisors LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 94.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,722 shares of the financial services provider’s stock after selling 28,607 shares during the period. Icon Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $27,000. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter worth $34,000. Finally, West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter worth $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

JPM opened at $250.29 on Tuesday. The business’s 50-day simple moving average is $223.99 and its 200 day simple moving average is $212.38. JPMorgan Chase & Co. has a 52-week low of $152.71 and a 52-week high of $254.31. 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 firm has a market capitalization of $704.65 billion, a PE ratio of 13.93, a PEG ratio of 3.61 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $1.25 per share. The ex-dividend date 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 2.00%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Analyst Ratings Changes

JPM has been the subject of a number of recent analyst reports. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Daiwa Capital Markets decreased 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. Evercore ISI raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $229.31.

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.