Independent Advisor Alliance Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Independent Advisor Alliance cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 170,319 shares of the financial services provider’s stock after selling 3,312 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.3% of Independent Advisor Alliance’s holdings, making the stock its 13th biggest holding. Independent Advisor Alliance’s holdings in JPMorgan Chase & Co. were worth $35,913,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in JPM. WFA Asset Management Corp grew its stake 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 buying an additional 412 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth $1,185,000. Jacobs Levy Equity Management Inc. boosted its position in JPMorgan Chase & Co. by 32.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 6,374 shares of the financial services provider’s stock worth $1,277,000 after purchasing an additional 1,569 shares during the period. New Covenant Trust Company N.A. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth $1,206,000. Finally, Montchanin Asset Management LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth $5,382,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JPM. Daiwa Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $249.75 on Thursday. The firm has a market cap of $703.13 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 3.63 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $152.72 and a 1 year high of $254.31. The firm’s 50-day simple moving average is $225.64 and its 200-day simple moving average is $213.00. 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 released 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 firm had revenue of $43.32 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.33 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share 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. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This is a positive change 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 annualized dividend and a yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio is 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.