Baxter Bros Inc. Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

Baxter Bros Inc. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 10.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 80,231 shares of the financial services provider’s stock after selling 9,157 shares during the period. JPMorgan Chase & Co. makes up about 2.2% of Baxter Bros Inc.’s investment portfolio, making the stock its 14th biggest position. Baxter Bros Inc.’s holdings in JPMorgan Chase & Co. were worth $16,917,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in JPM. Retirement Group LLC grew its stake in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth $32,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $34,000. Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $37,000. Finally, West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the third quarter worth about $37,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research reports. Oppenheimer raised their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Barclays increased their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Citigroup boosted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.38.

JPMorgan Chase & Co. Trading Up 11.5 %

NYSE JPM opened at $247.06 on Thursday. JPMorgan Chase & Co. has a 12-month low of $142.82 and a 12-month high of $248.00. The company has a fifty day simple moving average of $216.71 and a two-hundred day simple moving average of $207.71. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market cap of $695.56 billion, a P/E ratio of 13.75, a P/E/G ratio of 3.25 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $4.33 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 2.02%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

JPMorgan Chase & Co. 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.