Linscomb Wealth Inc. Has $22.76 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Linscomb Wealth Inc. trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the third quarter, Holdings Channel reports. The firm owned 107,913 shares of the financial services provider’s stock after selling 2,306 shares during the period. JPMorgan Chase & Co. comprises 1.1% of Linscomb Wealth Inc.’s holdings, making the stock its 14th biggest holding. Linscomb Wealth Inc.’s holdings in JPMorgan Chase & Co. were worth $22,755,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Altrius Capital Management Inc boosted its holdings in JPMorgan Chase & Co. by 0.5% during the third quarter. Altrius Capital Management Inc now owns 22,396 shares of the financial services provider’s stock valued at $4,723,000 after purchasing an additional 113 shares in the last quarter. Empowered Funds LLC boosted its holdings in JPMorgan Chase & Co. by 8.7% during the third quarter. Empowered Funds LLC now owns 111,062 shares of the financial services provider’s stock valued at $23,419,000 after purchasing an additional 8,893 shares in the last quarter. Empirical Finance LLC boosted its holdings in JPMorgan Chase & Co. by 2.2% during the third quarter. Empirical Finance LLC now owns 101,277 shares of the financial services provider’s stock valued at $21,355,000 after purchasing an additional 2,154 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 33,427 shares of the financial services provider’s stock worth $7,048,000 after acquiring an additional 1,381 shares in the last quarter. Finally, Black Diamond Financial LLC boosted its holdings in shares of JPMorgan Chase & Co. by 21.7% in the 3rd quarter. Black Diamond Financial LLC now owns 7,570 shares of the financial services provider’s stock worth $1,596,000 after acquiring an additional 1,349 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $243.03 on Wednesday. The firm has a fifty day moving average of $220.81 and a two-hundred day moving average of $210.92. The stock has a market capitalization of $684.21 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 3.56 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $151.92 and a 52 week high of $248.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its 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 company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.33 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JPM. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Citigroup boosted their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Daiwa Capital Markets reduced their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Two 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $229.31.

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.