Beacon Investment Advisory Services Inc. Sells 1,041 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Beacon Investment Advisory Services Inc. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,477 shares of the financial services provider’s stock after selling 1,041 shares during the period. JPMorgan Chase & Co. makes up about 2.4% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 8th biggest holding. Beacon Investment Advisory Services Inc.’s holdings in JPMorgan Chase & Co. were worth $56,822,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Accredited Investors Inc. raised its holdings in shares of JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after purchasing an additional 667 shares during the last quarter. Sunburst Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 5.0% during 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 buying an additional 268 shares during the last quarter. Sageworth Trust Co lifted its holdings in shares of 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 buying an additional 786 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after buying an additional 2,839 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after acquiring an additional 95,461 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada raised their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $249.72 on Monday. 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. has a 1 year low of $154.38 and a 1 year high of $254.31. The firm has a market capitalization of $703.05 billion, a PE ratio of 13.90, a P/E/G ratio of 3.62 and a beta of 1.10. The business’s 50 day moving average price is $227.21 and its 200-day moving average price is $213.78.

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, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.33 EPS. As a group, equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.