JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Brass Tax Wealth Management Inc.

Brass Tax Wealth Management Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 34.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,938 shares of the financial services provider’s stock after selling 1,023 shares during the period. Brass Tax Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $409,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. in the third quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $27,000. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $32,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded down $1.41 on Friday, hitting $240.12. 1,976,979 shares of the company were exchanged, compared to its average volume of 8,957,790. The firm has a market capitalization of $676.02 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 3.54 and a beta of 1.11. The company’s 50 day moving average price is $233.51 and its two-hundred day moving average price is $216.37. JPMorgan Chase & Co. has a one year low of $161.71 and a one year high of $254.31. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm 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 company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.33 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Analysts Set New Price Targets

A number of research firms recently issued reports on JPM. Piper Sandler upped their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird cut 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. 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 note on Monday, October 14th. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Finally, Citigroup boosted their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $234.81.

About JPMorgan Chase & Co.

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.