Principal Street Partners LLC Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Principal Street Partners LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 41,104 shares of the financial services provider’s stock after selling 4,312 shares during the quarter. JPMorgan Chase & Co. makes up about 1.4% of Principal Street Partners LLC’s portfolio, making the stock its 10th biggest position. Principal Street Partners LLC’s holdings in JPMorgan Chase & Co. were worth $8,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. bought a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Finally, West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at about $37,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.1 %

NYSE JPM opened at $249.79 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market cap of $703.24 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 3.63 and a beta of 1.10. The company has a 50 day moving average price of $226.43 and a 200 day moving average price of $213.26. JPMorgan Chase & Co. has a 52 week low of $152.72 and a 52 week high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. 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 research report on Thursday, October 10th. 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. 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. Finally, Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average 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.