JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Asset Dedication LLC

Asset Dedication LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,447 shares of the financial services provider’s stock after selling 5,040 shares during the quarter. JPMorgan Chase & Co. comprises about 0.7% of Asset Dedication LLC’s investment portfolio, making the stock its 23rd biggest position. Asset Dedication LLC’s holdings in JPMorgan Chase & Co. were worth $10,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. CCG Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 10.9% during the third quarter. CCG Wealth Management LLC now owns 1,395 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 137 shares during the period. Bourne Lent Asset Management Inc. increased its stake in JPMorgan Chase & Co. by 3.3% during the 3rd quarter. Bourne Lent Asset Management Inc. now owns 1,550 shares of the financial services provider’s stock worth $327,000 after buying an additional 50 shares during the period. Braun Bostich & Associates Inc. increased its stake in JPMorgan Chase & Co. by 1.4% during the 3rd quarter. Braun Bostich & Associates Inc. now owns 3,530 shares of the financial services provider’s stock worth $744,000 after buying an additional 48 shares during the period. EdgeRock Capital LLC boosted its position in JPMorgan Chase & Co. by 5.0% in the 3rd quarter. EdgeRock Capital LLC now owns 2,979 shares of the financial services provider’s stock valued at $628,000 after buying an additional 142 shares during the last quarter. Finally, ERn Financial LLC boosted its position in JPMorgan Chase & Co. by 4.1% in the 3rd quarter. ERn Financial LLC now owns 6,546 shares of the financial services provider’s stock valued at $1,380,000 after buying an additional 258 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JPM. Piper Sandler increased their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Oppenheimer reduced their target price on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday. Jefferies Financial Group lifted their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Barclays upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday. Finally, Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Trading Up 0.6 %

NYSE:JPM opened at $223.64 on Thursday. The firm has a market capitalization of $642.22 billion, a P/E ratio of 12.47, a P/E/G ratio of 3.28 and a beta of 1.11. The business has a 50 day simple moving average of $213.22 and a 200 day simple moving average of $204.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48.

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, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the previous year, the company posted $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 predict that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

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.