Sunbelt Securities Inc. Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

Sunbelt Securities Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the 3rd quarter, Holdings Channel reports. The fund owned 27,755 shares of the financial services provider’s stock after selling 1,066 shares during the period. Sunbelt Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $5,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

JPMorgan Chase & Co. Stock Down 0.3 %

JPMorgan Chase & Co. stock opened at $242.99 on Wednesday. The firm has a market capitalization of $684.10 billion, a P/E ratio of 13.52, a P/E/G ratio of 3.54 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a twelve month low of $158.15 and a twelve month high of $254.31. The stock’s fifty day simple moving average is $231.34 and its 200-day simple moving average is $215.71.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for 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 was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.33 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a report on Thursday, November 7th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Daiwa Capital Markets reduced their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada lifted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $234.81.

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.