Asset Allocation Strategies LLC Sells 58 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Asset Allocation Strategies LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,211 shares of the financial services provider’s stock after selling 58 shares during the quarter. Asset Allocation Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $255,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. during the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $27,000. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. during the second quarter valued at about $32,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $34,000. Finally, West Financial Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $242.99 on Wednesday. The stock has a fifty day moving average price of $231.34 and a 200 day moving average price of $215.71. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $684.10 billion, a PE ratio of 13.52, a P/E/G ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $158.15 and a 1 year high of $254.31.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on JPM shares. Citigroup upped their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. 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 stock. According to MarketBeat.com, 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.