Centric Wealth Management Sells 116 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Centric Wealth Management cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,159 shares of the financial services provider’s stock after selling 116 shares during the quarter. Centric Wealth Management’s holdings in JPMorgan Chase & Co. were worth $1,510,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Mizuho Securities Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $27,000. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth $34,000. Finally, West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter worth $37,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $249.98 on Friday. The stock has a market cap of $703.78 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 3.63 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $154.38 and a 52-week high of $254.31. The business has a 50-day simple moving average of $227.21 and a 200-day simple moving average of $213.61. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.33 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on JPM shares. Daiwa Capital Markets decreased their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays lifted their target price 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, October 14th. Deutsche Bank Aktiengesellschaft restated 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, Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $229.31.

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.