Summit Wealth & Retirement Planning Inc. Sells 467 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Summit Wealth & Retirement Planning Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,866 shares of the financial services provider’s stock after selling 467 shares during the period. JPMorgan Chase & Co. accounts for about 0.5% of Summit Wealth & Retirement Planning Inc.’s portfolio, making the stock its 22nd biggest holding. Summit Wealth & Retirement Planning Inc.’s holdings in JPMorgan Chase & Co. were worth $1,659,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in JPM. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth about $1,888,088,000. Swedbank AB bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $800,130,000. Capital Research Global Investors boosted its stake in JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after buying an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. boosted its stake in JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after buying an additional 2,787,510 shares during the last quarter. Finally, Granite Bay Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after buying an additional 1,396,194 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on JPM shares. Daiwa Capital Markets dropped their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Barclays increased their price target 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. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $224.31.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of NYSE JPM opened at $241.93 on Friday. 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 capitalization of $681.12 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. The stock’s fifty day simple moving average is $218.35 and its two-hundred day simple moving average is $209.33. JPMorgan Chase & Co. has a 12-month low of $148.46 and a 12-month 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 analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.33 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal 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 given a $1.25 dividend. 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 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.