Hemenway Trust Co LLC Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Hemenway Trust Co LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,527 shares of the financial services provider’s stock after selling 316 shares during the quarter. Hemenway Trust Co LLC’s holdings in JPMorgan Chase & Co. were worth $2,220,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at about $27,000. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $37,000. Finally, New England Capital Financial Advisors LLC lifted its position in JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $245.31 on Friday. The company has a 50 day simple moving average of $219.50 and a two-hundred day simple moving average of $209.92. JPMorgan Chase & Co. has a fifty-two week low of $150.09 and a fifty-two week high of $248.00. The company has a market capitalization of $690.63 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 3.50 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) 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 business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the business earned $4.33 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Analysts Set New Price Targets

Several research analysts recently commented on JPM shares. Royal Bank of Canada lifted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Evercore ISI raised their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a report on Thursday, November 7th. Finally, Barclays boosted their target price 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $227.13.

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.