Janney Capital Management LLC Sells 11,078 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Janney Capital Management LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,204 shares of the financial services provider’s stock after selling 11,078 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.0% of Janney Capital Management LLC’s holdings, making the stock its 7th biggest position. Janney Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $29,985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Retirement Group LLC lifted its stake in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $32,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at about $34,000. West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. during the third quarter worth about $37,000. Finally, Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $37,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Royal Bank of Canada boosted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Oppenheimer raised their price objective on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.38.

JPMorgan Chase & Co. Stock Up 0.8 %

JPMorgan Chase & Co. stock opened at $221.58 on Wednesday. The firm has a 50 day simple moving average of $216.19 and a 200 day simple moving average of $207.43. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 1-year low of $142.79 and a 1-year high of $226.75. The firm has a market capitalization of $623.82 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 3.25 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the previous year, the business earned $4.33 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.26%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.