Whalen Wealth Management Inc. Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Whalen Wealth Management Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,865 shares of the financial services provider’s stock after selling 156 shares during the quarter. Whalen Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $815,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 1.6 %

Shares of NYSE:JPM opened at $248.56 on Friday. The firm has a market capitalization of $699.78 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 3.53 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $249.15. 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’s 50-day moving average is $223.14 and its two-hundred day moving average is $211.76.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the firm earned $4.33 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts predict 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. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.01%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Wall Street Analyst Weigh In

JPM has been the topic of a number of analyst reports. Citigroup lifted their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company increased their price target 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, November 15th. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. 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.