Asset Allocation Strategies LLC Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Asset Allocation Strategies LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,211 shares of the financial services provider’s stock after selling 58 shares during the period. Asset Allocation Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $1,888,088,000. Fisher Asset Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares during the period. Wulff Hansen & CO. grew its holdings in JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after purchasing an additional 2,787,510 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in JPMorgan Chase & Co. by 137.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after buying an additional 2,535,590 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in JPMorgan Chase & Co. by 93.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after buying an additional 1,301,764 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $242.99 on Wednesday. The firm has a market cap of $684.10 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 3.54 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 1-year low of $158.15 and a 1-year high of $254.31. The company has a 50 day moving average of $231.34 and a 200-day moving average of $215.71.

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, beating 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 firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter last year, the company posted $4.33 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. 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 company an “overweight” rating in a report on Friday, November 15th. Barclays boosted their target price 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. Finally, Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $234.81.

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.