JPMorgan Chase & Co. $JPM Stock: Fragasso Financial Advisors Inc Trims Stake

Fragasso Financial Advisors Inc decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 11.7% in the third quarter, Holdings Channel.com reports. The firm owned 19,918 shares of the financial services provider’s stock after selling 2,640 shares during the period. Fragasso Financial Advisors Inc’s holdings in JPMorgan Chase & Co. were worth $6,632,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Horizons Wealth Management bought a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $31,000. MBM Wealth Consultants LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $29,000. Aventus Investment Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $33,000. Osbon Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $35,000. Finally, Timbuktu Capital Management LLC bought a new position in JPMorgan Chase & Co. in the second quarter worth about $50,000. 71.55% of the stock is currently owned by institutional investors.

Key Headlines Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: Third-quarter revenue rose approximately 8% year over year to $50.2 billion, while net income increased 6% to $15.3 billion. Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management all delivered double-digit net-income growth. JPMorgan Chase Reports Third-Quarter Net Income
• Positive Sentiment: Broad-based loan and deposit growth, an 18.23% return on equity, and continued earnings growth support the view that JPMorgan’s underlying franchise remains resilient despite a challenging market backdrop. JPMorgan Earnings Miss Estimates But Reveal Broad-Based Strength
• Positive Sentiment: Technical sentiment improved after JPMorgan broke its recent downtrend and found support near $325, suggesting some investors view the pullback as a potential buying opportunity. Is JPMorgan About to Trend Higher?

Analysts Set New Price Targets

Several equities analysts have issued reports on JPM shares. UBS Group cut their price target on shares of JPMorgan Chase & Co. from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Wednesday, July 22nd. Citigroup lifted their price target on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, October 8th. They issued a “hold” rating and a $370.00 price objective on the stock. Finally, Jefferies Financial Group reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $362.88.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM traded up $0.93 on Tuesday, hitting $335.23. 7,769,439 shares of the company’s stock were exchanged, compared to its average volume of 9,182,284. The firm has a 50-day moving average price of $350.00 and a 200-day moving average price of $329.24. The stock has a market cap of $891.12 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.37 and a beta of 1.02. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $5.75 EPS for the quarter, missing analysts’ consensus estimates of $5.94 by ($0.19). The company had revenue of $50.17 billion for the quarter, compared to analysts’ expectations of $51.23 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.07 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 24.16 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be paid a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, October 6th. JPMorgan Chase & Co.’s payout ratio is currently 28.28%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.