Secure Asset Management LLC Sells 526 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Secure Asset Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,409 shares of the financial services provider’s stock after selling 526 shares during the period. Secure Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Henrickson Nauta Wealth Advisors Inc. grew its stake in shares of JPMorgan Chase & Co. by 1.3% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 45 shares during the last quarter. Instrumental Wealth LLC grew its stake in shares of JPMorgan Chase & Co. by 4.5% in the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the last quarter. Gemmer Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.6% in the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 0.9% in the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after purchasing an additional 48 shares during the last quarter. Finally, Braun Bostich & Associates Inc. grew its stake in shares of JPMorgan Chase & Co. by 1.4% in the third quarter. Braun Bostich & Associates Inc. now owns 3,530 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 48 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JPM has been the subject of several research analyst reports. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Daiwa Capital Markets lowered their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $225.43 on Friday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.92. The firm has a market cap of $647.36 billion, a P/E ratio of 12.57, a PEG ratio of 3.28 and a beta of 1.11. The company has a 50 day moving average of $214.03 and a 200 day moving average of $204.50. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

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 for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $41.43 billion. During the same period in the previous year, the business earned $4.33 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 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.