Hedges Asset Management LLC Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Hedges Asset Management LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 15.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,300 shares of the financial services provider’s stock after selling 800 shares during the period. Hedges Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Retirement Group LLC increased its holdings in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the period. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $37,000. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on JPM shares. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Daiwa Capital Markets cut their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Oppenheimer dropped their price target on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $224.41 on Thursday. The firm has a market cap of $638.48 billion, a P/E ratio of 12.49, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a twelve month low of $137.47 and a twelve month high of $226.75. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $215.96 and a 200 day moving average of $206.15.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly 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 return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the business earned $4.33 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.23%. 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%.

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.