Matrix Asset Advisors Inc. NY Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Matrix Asset Advisors Inc. NY reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,791 shares of the financial services provider’s stock after selling 14,267 shares during the period. JPMorgan Chase & Co. accounts for about 3.9% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 3rd biggest position. Matrix Asset Advisors Inc. NY’s holdings in JPMorgan Chase & Co. were worth $35,170,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. InTrack Investment Management Inc increased its holdings in JPMorgan Chase & Co. by 79.0% during the third quarter. InTrack Investment Management Inc now owns 10,548 shares of the financial services provider’s stock worth $2,224,000 after buying an additional 4,655 shares during the last quarter. Montis Financial LLC increased its holdings in JPMorgan Chase & Co. by 12.9% during the third quarter. Montis Financial LLC now owns 2,854 shares of the financial services provider’s stock worth $602,000 after buying an additional 325 shares during the last quarter. Brown Miller Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 0.4% during the third quarter. Brown Miller Wealth Management LLC now owns 45,352 shares of the financial services provider’s stock worth $9,563,000 after buying an additional 189 shares during the last quarter. CRA Financial Services LLC increased its holdings in JPMorgan Chase & Co. by 0.7% during the third quarter. CRA Financial Services LLC now owns 10,140 shares of the financial services provider’s stock worth $2,138,000 after buying an additional 73 shares during the last quarter. Finally, HCR Wealth Advisors increased its holdings in JPMorgan Chase & Co. by 2.0% during the third quarter. HCR Wealth Advisors now owns 30,068 shares of the financial services provider’s stock worth $6,340,000 after buying an additional 587 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JPM. Barclays raised their price objective 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $213.47.

JPMorgan Chase & Co. Trading Up 4.4 %

Shares of JPMorgan Chase & Co. stock opened at $222.29 on Friday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The firm has a market cap of $632.45 billion, a PE ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50 day simple moving average of $211.79 and a two-hundred day simple moving average of $203.70.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the business posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share 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 given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.25%. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

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.