Chevy Chase Trust Holdings LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Chevy Chase Trust Holdings LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,244,409 shares of the financial services provider’s stock after selling 50,535 shares during the quarter. JPMorgan Chase & Co. makes up about 1.5% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 9th largest holding. Chevy Chase Trust Holdings LLC’s holdings in JPMorgan Chase & Co. were worth $473,256,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at about $32,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at about $34,000. Finally, West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. in the third quarter worth about $37,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.1 %

NYSE:JPM opened at $250.03 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $155.88 and a fifty-two week high of $254.31. The stock’s 50-day moving average is $227.21 and its two-hundred day moving average is $213.78. The stock has a market cap of $703.92 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 3.62 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results 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 return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the business posted $4.33 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research 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 announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on JPM shares. 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. Barclays boosted their price target 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. 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. Morgan Stanley cut 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 report on Monday, September 30th. Finally, Royal Bank of Canada boosted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $229.31.

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.