Independent Advisor Alliance Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Independent Advisor Alliance lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 170,319 shares of the financial services provider’s stock after selling 3,312 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of Independent Advisor Alliance’s holdings, making the stock its 13th largest position. Independent Advisor Alliance’s holdings in JPMorgan Chase & Co. were worth $35,913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Accredited Investors Inc. boosted its holdings in JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after purchasing an additional 667 shares in the last quarter. Sunburst Financial Group LLC boosted its holdings in JPMorgan Chase & Co. by 5.0% in the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after purchasing an additional 268 shares in the last quarter. Sageworth Trust Co boosted its holdings in JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 786 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in JPMorgan Chase & Co. by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after purchasing an additional 95,461 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after purchasing an additional 2,839 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.1 %

Shares of JPMorgan Chase & Co. stock opened at $249.75 on Thursday. The business has a 50 day moving average price of $225.64 and a 200 day moving average price of $213.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $703.13 billion, a P/E ratio of 13.90, a P/E/G ratio of 3.63 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $152.72 and a 1 year high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.33 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS 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. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.00%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research report on Thursday, November 7th. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $229.31.

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.