Archer Investment Corp Has $3.83 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Archer Investment Corp lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.0% in the third quarter, Holdings Channel reports. The institutional investor owned 18,182 shares of the financial services provider’s stock after selling 2,245 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of Archer Investment Corp’s holdings, making the stock its 18th biggest position. Archer Investment Corp’s holdings in JPMorgan Chase & Co. were worth $3,834,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the third quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the third quarter worth about $27,000. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. in the second quarter worth about $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the second quarter worth about $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent analyst reports. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday. Oppenheimer raised their price objective on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $243.03 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $151.92 and a 52-week high of $248.00. The stock has a market cap of $684.21 billion, a PE ratio of 13.52, a PEG ratio of 3.56 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. The firm’s 50 day moving average price is $220.81 and its two-hundred day moving average price is $210.92.

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 net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period last year, the firm earned $4.33 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS 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 $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. 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.