Palmer Knight Co Sells 525 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Palmer Knight Co cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 33,609 shares of the financial services provider’s stock after selling 525 shares during the period. JPMorgan Chase & Co. comprises about 3.1% of Palmer Knight Co’s portfolio, making the stock its 19th biggest holding. Palmer Knight Co’s holdings in JPMorgan Chase & Co. were worth $7,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WFA Asset Management Corp lifted its position in shares of JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 412 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $1,185,000. Hoey Investments Inc. grew its stake in JPMorgan Chase & Co. by 5.9% during the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock worth $4,482,000 after buying an additional 1,247 shares in the last quarter. Signaturefd LLC increased its holdings in JPMorgan Chase & Co. by 2.9% in the 1st quarter. Signaturefd LLC now owns 71,829 shares of the financial services provider’s stock valued at $14,387,000 after buying an additional 2,028 shares during the period. Finally, Capital Management Associates NY raised its position in shares of JPMorgan Chase & Co. by 117.7% in the 1st quarter. Capital Management Associates NY now owns 10,671 shares of the financial services provider’s stock valued at $2,137,000 after buying an additional 5,769 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on JPM shares. Daiwa Capital Markets decreased their price objective 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. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Oppenheimer lifted their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a report on Thursday, November 7th. Finally, Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $224.31.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $239.41 on Tuesday. The stock has a market capitalization of $674.02 billion, a PE ratio of 13.32, a PEG ratio of 3.46 and a beta of 1.10. The business’s 50 day simple moving average is $217.24 and its 200 day simple moving average is $208.46. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a one year low of $145.16 and a one year high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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 company had revenue of $43.32 billion during 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%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.33 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 17.62 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. Stockholders of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. This is an increase 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 currently 27.82%.

JPMorgan Chase & Co. Company 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.