JPMorgan Chase & Co. (NYSE:JPM) Stock Position Cut by Rench Wealth Management Inc.

Rench Wealth Management Inc. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 50,975 shares of the financial services provider’s stock after selling 408 shares during the quarter. JPMorgan Chase & Co. makes up 3.7% of Rench Wealth Management Inc.’s portfolio, making the stock its 5th largest holding. Rench Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $10,749,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of JPMorgan Chase & Co. by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after buying an additional 302,592 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $1,888,088,000. Finally, Sanders Capital LLC raised its position in shares of JPMorgan Chase & Co. by 0.6% in the third quarter. Sanders Capital LLC now owns 8,194,767 shares of the financial services provider’s stock valued at $1,727,949,000 after buying an additional 49,695 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $243.42 on Thursday. JPMorgan Chase & Co. has a 1-year low of $156.00 and a 1-year high of $254.31. The stock has a market cap of $685.31 billion, a PE ratio of 13.55, a P/E/G ratio of 3.57 and a beta of 1.11. The firm has a 50-day simple moving average of $229.23 and a two-hundred day simple moving average of $214.57. 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 announced its quarterly 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 analysts’ expectations of $41.43 billion. During the same period last year, the business earned $4.33 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.05%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods increased 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. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.