Lake Street Private Wealth LLC Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Lake Street Private Wealth LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 22.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,647 shares of the financial services provider’s stock after selling 10,319 shares during the quarter. JPMorgan Chase & Co. makes up about 1.2% of Lake Street Private Wealth LLC’s holdings, making the stock its 14th largest position. Lake Street Private Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $7,516,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of JPM. Capital International Investors grew its holdings in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after purchasing an additional 778,297 shares during the last quarter. Capital World Investors grew its holdings in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after purchasing an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of JPMorgan Chase & Co. by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider’s stock worth $1,473,809,000 after purchasing an additional 157,577 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $222.28 on Friday. The company has a 50-day moving average price of $215.23 and a 200 day moving average price of $205.23. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.92. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market cap of $638.31 billion, a P/E ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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 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 period last year, the firm earned $4.33 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

Analysts Set New Price Targets

Several equities analysts have issued reports on JPM shares. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup raised their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Barclays raised their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

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.