Meritage Portfolio Management Sells 1,064 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Meritage Portfolio Management trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,980 shares of the financial services provider’s stock after selling 1,064 shares during the period. JPMorgan Chase & Co. comprises about 0.7% of Meritage Portfolio Management’s investment portfolio, making the stock its 29th largest position. Meritage Portfolio Management’s holdings in JPMorgan Chase & Co. were worth $11,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth approximately $32,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $37,000. Finally, New England Capital Financial Advisors LLC grew its position in JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 50 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research note on Thursday, November 7th. Barclays upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Evercore ISI raised 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. Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $224.31.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of NYSE:JPM opened at $241.93 on Friday. The company has a 50 day moving average price of $218.35 and a two-hundred day moving average price of $209.33. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $681.12 billion, a PE ratio of 13.46, a PEG ratio of 3.48 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $148.46 and a 52 week high of $248.00.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.07%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

About JPMorgan Chase & Co.

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.