MGB Wealth Management LLC Sells 625 Shares of JPMorgan Chase & Co. (NYSE:JPM)

MGB Wealth Management LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,861 shares of the financial services provider’s stock after selling 625 shares during the period. JPMorgan Chase & Co. comprises about 0.8% of MGB Wealth Management LLC’s portfolio, making the stock its 25th biggest position. MGB Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Accredited Investors Inc. lifted its holdings in JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 667 shares during the period. Sunburst Financial Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 5.0% in the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after purchasing an additional 268 shares during the period. Sageworth Trust Co boosted its position in shares of JPMorgan Chase & Co. by 37.9% during the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 786 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of JPMorgan Chase & Co. by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after purchasing an additional 95,461 shares in the last quarter. Finally, Czech National Bank grew its stake in JPMorgan Chase & Co. by 7.6% during the second quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock worth $110,682,000 after purchasing an additional 38,548 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays lifted 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 note on Monday, October 14th. 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. Finally, Royal Bank of Canada boosted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Trading Down 0.1 %

NYSE JPM opened at $249.97 on Wednesday. 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 business has a fifty day simple moving average of $224.80 and a 200 day simple moving average of $212.74. JPMorgan Chase & Co. has a 12 month low of $152.71 and a 12 month high of $254.31. The firm has a market capitalization of $703.75 billion, a P/E ratio of 13.91, a PEG ratio of 3.61 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate 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 company 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 company posted $4.33 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

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.