New Millennium Group LLC Has $2.21 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

New Millennium Group LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,474 shares of the financial services provider’s stock after selling 1,614 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.4% of New Millennium Group LLC’s portfolio, making the stock its 19th largest position. New Millennium Group LLC’s holdings in JPMorgan Chase & Co. were worth $2,208,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $27,000. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the second quarter worth approximately $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JPM. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays raised their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Daiwa Capital Markets lowered their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $248.55 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50-day moving average of $223.14 and a 200-day moving average of $211.90. JPMorgan Chase & Co. has a 52 week low of $152.71 and a 52 week high of $249.15. The company has a market capitalization 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. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the business earned $4.33 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.01%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is 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.