Rehmann Capital Advisory Group Sells 1,045 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Rehmann Capital Advisory Group cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,562 shares of the financial services provider’s stock after selling 1,045 shares during the period. Rehmann Capital Advisory Group’s holdings in JPMorgan Chase & Co. were worth $6,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in JPM. TD Private Client Wealth LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.0% in the third quarter. TD Private Client Wealth LLC now owns 94,595 shares of the financial services provider’s stock valued at $19,946,000 after acquiring an additional 1,887 shares in the last quarter. Hobbs Group Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 18.1% in the 3rd quarter. Hobbs Group Advisors LLC now owns 1,544 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 237 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $5,580,000. Teachers Retirement System of The State of Kentucky increased its holdings in JPMorgan Chase & Co. by 15.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 576,669 shares of the financial services provider’s stock valued at $121,597,000 after buying an additional 76,710 shares during the period. Finally, Neo Ivy Capital Management bought a new position in JPMorgan Chase & Co. in the third quarter worth approximately $3,678,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

JPM opened at $242.99 on Wednesday. The firm has a fifty day moving average price of $231.34 and a 200 day moving average price of $215.71. JPMorgan Chase & Co. has a 1 year low of $158.15 and a 1 year high of $254.31. The stock has a market cap of $684.10 billion, a P/E ratio of 13.52, a P/E/G ratio of 3.54 and a beta of 1.11. 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. (NYSE:JPM) last issued 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. 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 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $1.25 dividend. The ex-dividend date 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 27.82%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Barclays increased 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 report on Monday, October 14th. Daiwa Capital Markets decreased their target price 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. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two equities research 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. According to data from MarketBeat, the stock has an average 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.