McGinn Penninger Investment Management Inc. Sells 170 Shares of JPMorgan Chase & Co. (NYSE:JPM)

McGinn Penninger Investment Management Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the third quarter, Holdings Channel.com reports. The fund owned 47,531 shares of the financial services provider’s stock after selling 170 shares during the quarter. JPMorgan Chase & Co. comprises about 6.7% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 4th biggest position. McGinn Penninger Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $10,022,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Sycomore Asset Management purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $3,497,000. Sargent Investment Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.0% in the third quarter. Sargent Investment Group LLC now owns 23,408 shares of the financial services provider’s stock valued at $4,936,000 after purchasing an additional 2,322 shares in the last quarter. Omnia Family Wealth LLC boosted its position in shares of JPMorgan Chase & Co. by 6.4% in the third quarter. Omnia Family Wealth LLC now owns 5,828 shares of the financial services provider’s stock worth $1,229,000 after buying an additional 353 shares during the period. Lifeworks Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.1% during the third quarter. Lifeworks Advisors LLC now owns 3,893 shares of the financial services provider’s stock valued at $821,000 after buying an additional 117 shares in the last quarter. Finally, Kapstone Financial Advisors LLC raised its position in JPMorgan Chase & Co. by 4.5% during the third quarter. Kapstone Financial Advisors LLC now owns 9,768 shares of the financial services provider’s stock valued at $2,056,000 after buying an additional 422 shares during the period. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Barclays lifted their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada upped their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday. Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” 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 increased their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $227.13.

JPMorgan Chase & Co. Trading Down 0.1 %

NYSE:JPM opened at $245.18 on Tuesday. The company’s 50 day moving average is $220.06 and its 200-day moving average is $210.55. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12 month low of $151.92 and a 12 month high of $248.00. The firm has a market cap of $690.27 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping 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 firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business earned $4.33 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS 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 is an increase 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 is presently 27.82%.

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.