JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,257 shares of the financial services provider’s stock after selling 477 shares during the quarter. JPMorgan Chase & Co. comprises 0.9% of Strait & Sound Wealth Management LLC’s portfolio, making the stock its 18th largest holding. Strait & Sound Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,952,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in JPM. One Charles Private Wealth Services LLC boosted its position in shares of JPMorgan Chase & Co. by 0.4% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock worth $2,568,000 after acquiring an additional 44 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. lifted its stake 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 purchasing an additional 45 shares during the last quarter. Sunburst Financial Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 45 shares in the last quarter. West Wealth Group LLC increased its stake in shares of JPMorgan Chase & Co. by 3.6% in the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 46 shares during the last quarter. Finally, Delta Financial Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock worth $3,272,000 after buying an additional 46 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 1.4 %

Shares of JPM stock opened at $243.81 on Tuesday. JPMorgan Chase & Co. has a 1-year low of $158.15 and a 1-year high of $254.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market cap of $686.41 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 3.59 and a beta of 1.11. The stock has a 50-day moving average of $231.34 and a 200-day moving average of $215.71.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.05%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Daiwa Capital Markets reduced their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price objective 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. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Finally, Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $234.81.

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.