Covenant Partners LLC Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Covenant Partners LLC decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,988 shares of the financial services provider’s stock after selling 678 shares during the quarter. Covenant Partners LLC’s holdings in JPMorgan Chase & Co. were worth $962,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of JPM. Your Advocates Ltd. LLP grew its position in shares of JPMorgan Chase & Co. by 250.0% during the second quarter. Your Advocates Ltd. LLP now owns 175 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 125 shares in the last quarter. Provident Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $34,000. FAI Wealth Management grew its position in shares of JPMorgan Chase & Co. by 317.0% during the second quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 317 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $43,000. Finally, Eukles Asset Management grew its position in shares of JPMorgan Chase & Co. by 28.7% during the third quarter. Eukles Asset Management now owns 533 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

In other JPMorgan Chase & Co. news, CFO Jennifer Piepszak sold 3,297 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $101.11, for a total transaction of $333,359.67. Also, insider Nicole Giles sold 2,281 shares of the firm’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $100.98, for a total value of $230,335.38. Company insiders own 0.78% of the company’s stock.

A number of equities analysts recently commented on JPM shares. Morgan Stanley reissued a “buy” rating and set a $106.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, July 27th. Credit Suisse Group reissued a “buy” rating and set a $126.00 price target (up from $122.00) on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 14th. Independent Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price target for the company from $100.00 to $110.00 in a research note on Tuesday, September 29th. TheStreet raised JPMorgan Chase & Co. from a “c” rating to a “b-” rating in a research note on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and increased their price target for the company from $125.00 to $130.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $111.34.

Shares of JPM stock opened at $114.57 on Friday. JPMorgan Chase & Co. has a 52-week low of $76.91 and a 52-week high of $141.10. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $349.23 billion, a P/E ratio of 14.98, a P/E/G ratio of 2.68 and a beta of 1.15. The stock has a 50 day moving average price of $103.80 and a 200 day moving average price of $99.04.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.69. The firm had revenue of $29.90 billion during the quarter, compared to analyst estimates of $28.20 billion. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. JPMorgan Chase & Co.’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $2.68 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 7.47 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $3.60 annualized dividend and a yield of 3.14%. JPMorgan Chase & Co.’s payout ratio is currently 34.35%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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