Greenwood Gearhart Inc. Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Greenwood Gearhart Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 19.9% during the third quarter, Holdings Channel.com reports. The fund owned 64,847 shares of the financial services provider’s stock after selling 16,116 shares during the quarter. JPMorgan Chase & Co. comprises 1.1% of Greenwood Gearhart Inc.’s investment portfolio, making the stock its 29th biggest position. Greenwood Gearhart Inc.’s holdings in JPMorgan Chase & Co. were worth $13,674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Accredited Investors Inc. lifted its holdings in JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after purchasing an additional 667 shares in the last quarter. Sageworth Trust Co raised its position in shares of JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after buying an additional 786 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after buying an additional 2,839 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after acquiring an additional 95,461 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after acquiring an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.4 %

JPM opened at $243.81 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $158.15 and a 52 week high of $254.31. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The business has a fifty day simple moving average of $231.34 and a 200-day simple moving average of $215.71. The firm has a market cap of $686.41 billion, a P/E ratio of 13.57, a P/E/G ratio of 3.59 and a beta of 1.11.

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 analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations 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 last year, the business posted $4.33 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.05%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on JPM shares. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.