GenWealth Group Inc. Sells 68 Shares of JPMorgan Chase & Co. (NYSE:JPM)

GenWealth Group Inc. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,844 shares of the financial services provider’s stock after selling 68 shares during the quarter. GenWealth Group Inc.’s holdings in JPMorgan Chase & Co. were worth $811,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Henrickson Nauta Wealth Advisors Inc. grew its position in JPMorgan Chase & Co. by 1.3% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after buying an additional 45 shares in the last quarter. Instrumental Wealth LLC raised its position in JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 47 shares in the last quarter. Gemmer Asset Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.6% during the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after purchasing an additional 48 shares during the last quarter. Great Point Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock valued at $1,151,000 after buying an additional 48 shares in the last quarter. Finally, Waller Financial Planning Group Inc. boosted its stake in JPMorgan Chase & Co. by 1.7% in the third quarter. Waller Financial Planning Group Inc. now owns 2,899 shares of the financial services provider’s stock worth $611,000 after buying an additional 49 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Down 0.4 %

Shares of JPMorgan Chase & Co. stock opened at $221.48 on Tuesday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50-day moving average of $212.32 and a 200 day moving average of $203.88. The firm has a market cap of $636.02 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.33 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $1.25 dividend. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.26%. JPMorgan Chase & Co.’s payout ratio is 27.89%.

Analyst Upgrades and Downgrades

Several research firms have commented on JPM. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Royal Bank of Canada raised their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Citigroup boosted their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.94.

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.