Selective Wealth Management Inc. Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Selective Wealth Management Inc. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,347 shares of the financial services provider’s stock after selling 502 shares during the period. Selective Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $495,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wellington Wealth Strategies LLC. bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $1,145,000. Cooper Financial Group lifted its stake in shares of JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after purchasing an additional 984 shares during the last quarter. Spartan Planning & Wealth Management boosted its holdings in shares of JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 2,722 shares during the period. jvl associates llc increased its position in shares of JPMorgan Chase & Co. by 59.8% during the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 715 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV raised its holdings in JPMorgan Chase & Co. by 1.3% during the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock valued at $5,201,000 after buying an additional 330 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $212.84 on Friday. The company has a market cap of $605.57 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. 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 firm’s 50-day simple moving average is $211.22 and its two-hundred day simple moving average is $203.39.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period last year, the company earned $4.37 EPS. Research analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.35%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

Wall Street Analyst Weigh In

Several research firms recently commented on JPM. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Oppenheimer increased their price objective on JPMorgan Chase & Co. from $221.00 to $234.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Barclays raised their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $213.47.

JPMorgan Chase & Co. Company 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.