First Horizon Advisors Inc. Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

First Horizon Advisors Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,266 shares of the financial services provider’s stock after selling 3,501 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.4% of First Horizon Advisors Inc.’s investment portfolio, making the stock its 8th largest holding. First Horizon Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $50,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $1,888,088,000. Swedbank AB purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $800,130,000. Capital Research Global Investors raised its position in JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares during the period. Wulff Hansen & CO. boosted its stake in shares of JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares during the last quarter. Finally, Granite Bay Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 6,239.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after acquiring an additional 1,396,194 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on JPM shares. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a report on Thursday, November 7th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Royal Bank of Canada increased their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $248.55 on Friday. The company has a market cap of $699.75 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 3.55 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $249.15. The stock’s 50 day simple moving average is $223.14 and its two-hundred day simple moving average is $211.90. 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 released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) 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 company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $1.25 dividend. This is an increase 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 dividend yield of 2.01%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.