Towercrest Capital Management Has $2 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Towercrest Capital Management lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,499 shares of the financial services provider’s stock after selling 805 shares during the quarter. Towercrest Capital Management’s holdings in JPMorgan Chase & Co. were worth $2,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after acquiring an additional 1,040,594 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $1,888,088,000. Envestnet Asset Management Inc. lifted its stake in JPMorgan Chase & Co. by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider’s stock valued at $1,473,809,000 after purchasing an additional 157,577 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in JPMorgan Chase & Co. by 3.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,017,646 shares of the financial services provider’s stock worth $1,479,741,000 after purchasing an additional 261,363 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after purchasing an additional 182,648 shares during the period. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup raised their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Daiwa Capital Markets dropped 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 report on Thursday, October 10th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada increased their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $249.97 on Wednesday. The company has a market cap of $703.75 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 3.61 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $152.71 and a fifty-two week high of $254.31. 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 stock has a fifty day moving average price of $224.80 and a 200-day moving average price of $212.74.

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. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. 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 prior year, the business posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.00%. 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.