Novare Capital Management LLC Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Novare Capital Management LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 83,124 shares of the financial services provider’s stock after selling 1,799 shares during the quarter. JPMorgan Chase & Co. comprises 1.5% of Novare Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Novare Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $17,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Cooper Financial Group boosted its holdings in shares of JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after acquiring an additional 984 shares during the period. Spartan Planning & Wealth Management raised its holdings in shares of JPMorgan Chase & Co. by 257.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after buying an additional 2,722 shares during the last quarter. jvl associates llc boosted its stake in shares of JPMorgan Chase & Co. by 59.8% during the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after buying an additional 715 shares during the period. Rowlandmiller & PARTNERS.ADV grew its holdings in shares of JPMorgan Chase & Co. by 1.3% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock worth $5,201,000 after buying an additional 330 shares during the last quarter. Finally, Aspiriant LLC increased its position in JPMorgan Chase & Co. by 1.1% in the 1st quarter. Aspiriant LLC now owns 29,728 shares of the financial services provider’s stock valued at $5,955,000 after acquiring an additional 320 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.4 %

JPM opened at $221.48 on Tuesday. The company 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. has a one year low of $135.19 and a one year high of $225.48. The business’s fifty day moving average is $212.32 and its two-hundred day moving average is $203.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

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

JPMorgan Chase & Co. Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on JPM shares. Royal Bank of Canada lifted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Wells Fargo & Company upped their price objective 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. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Barclays raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus 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.