Asset Dedication LLC Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Asset Dedication LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,447 shares of the financial services provider’s stock after selling 5,040 shares during the period. JPMorgan Chase & Co. makes up about 0.7% of Asset Dedication LLC’s holdings, making the stock its 23rd biggest position. Asset Dedication LLC’s holdings in JPMorgan Chase & Co. were worth $10,216,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Cooper Financial Group boosted its stake in shares of JPMorgan Chase & Co. by 12.8% during the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after acquiring an additional 984 shares in the last quarter. jvl associates llc boosted its position in JPMorgan Chase & Co. by 59.8% during the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 715 shares in the last quarter. Rowlandmiller & PARTNERS.ADV boosted its position in JPMorgan Chase & Co. by 1.3% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock worth $5,201,000 after purchasing an additional 330 shares in the last quarter. Aspiriant LLC grew its holdings in JPMorgan Chase & Co. by 1.1% in the first quarter. Aspiriant LLC now owns 29,728 shares of the financial services provider’s stock valued at $5,955,000 after purchasing an additional 320 shares during the last quarter. Finally, BCGM Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 2.8% in the first quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock valued at $3,818,000 after buying an additional 516 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $223.64 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. The firm’s 50 day moving average is $213.22 and its two-hundred day moving average is $204.17. The company has a market cap of $642.22 billion, a P/E ratio of 12.47, a P/E/G ratio of 3.28 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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 return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter last year, the firm earned $4.33 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Barclays raised 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 note on Monday. Jefferies Financial Group upped their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada raised their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Oppenheimer reduced their price objective on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

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.