Palisade Asset Management LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Palisade Asset Management LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the third quarter, Holdings Channel.com reports. The firm owned 81,231 shares of the financial services provider’s stock after selling 1,278 shares during the period. JPMorgan Chase & Co. comprises 1.7% of Palisade Asset Management LLC’s portfolio, making the stock its 16th largest holding. Palisade Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $17,128,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JPM. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research report on Thursday, November 7th. Citigroup raised their price target 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, Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $249.97 on Wednesday. The business has a 50-day simple moving average of $224.80 and a two-hundred day simple moving average of $212.74. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 52 week low of $152.71 and a 52 week high of $254.31. The stock has a market cap of $703.75 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 3.61 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same period in the prior year, the firm posted $4.33 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed 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. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. This is an increase 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 (DPR) is presently 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.