Buckingham Capital Management Inc. Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Buckingham Capital Management Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,575 shares of the financial services provider’s stock after selling 1,017 shares during the quarter. Buckingham Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $5,182,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Henrickson Nauta Wealth Advisors Inc. raised its holdings in 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 valued at $725,000 after acquiring an additional 45 shares in the last quarter. Sunburst Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 45 shares in the last quarter. West Wealth Group LLC lifted its position in shares of JPMorgan Chase & Co. by 3.6% during the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 46 shares during the last quarter. Delta Financial Advisors LLC grew its stake in JPMorgan Chase & Co. by 0.3% in the third quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock worth $3,272,000 after purchasing an additional 46 shares in the last quarter. Finally, Instrumental Wealth LLC increased its holdings in 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 valued at $230,000 after buying an additional 47 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on JPM. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday. Daiwa Capital Markets reduced their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $227.13.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $245.39 on Friday. JPMorgan Chase & Co. has a 12-month low of $150.09 and a 12-month high of $248.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $690.86 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 3.50 and a beta of 1.10. The business has a 50 day simple moving average of $218.84 and a 200 day simple moving average of $209.56.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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 boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.