Dock Street Asset Management Inc. Has $614,000 Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Dock Street Asset Management Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.5% in the third quarter, HoldingsChannel reports. The firm owned 2,911 shares of the financial services provider’s stock after selling 171 shares during the quarter. Dock Street Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $614,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $37,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.7 %

NYSE JPM opened at $224.98 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.92. The company’s 50-day moving average price is $214.96 and its 200-day moving average price is $205.09. The stock has a market cap of $646.07 billion, a PE ratio of 12.55, a PEG ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.33 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This is a boost 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%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Evercore ISI increased their price target 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. Barclays increased their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. 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.