Prestige Wealth Management Group LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Prestige Wealth Management Group LLC decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 33.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,420 shares of the financial services provider’s stock after selling 7,365 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in JPMorgan Chase & Co. were worth $3,041,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $27,000. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the second quarter worth about $34,000. Finally, West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $243.81 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $158.15 and a twelve month 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 fifty day simple moving average of $231.34 and a two-hundred day simple moving average of $215.71. The stock has a market capitalization of $686.41 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 3.59 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.33 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued 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 currently 27.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JPM. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Daiwa Capital Markets cut their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Barclays increased their price objective 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. Two investment 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $234.81.

JPMorgan Chase & Co. 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.