Navellier & Associates Inc. Sells 1,000 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Navellier & Associates Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,640 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Navellier & Associates Inc.’s holdings in JPMorgan Chase & Co. were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on JPM shares. Royal Bank of Canada increased their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Barclays upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Up 0.7 %

Shares of JPMorgan Chase & Co. stock opened at $250.29 on Tuesday. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $254.31. The firm has a market cap of $704.65 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 3.61 and a beta of 1.10. The company has a 50-day moving average of $223.99 and a 200 day moving average of $212.38. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

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, beating 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 business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the firm earned $4.33 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

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.