JPMorgan Chase & Co. (NYSE:JPM) Stake Reduced by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,682 shares of the financial services provider’s stock after selling 938 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.4% of Providence Wealth Advisors LLC’s holdings, making the stock its 23rd largest position. Providence Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of JPM. Laidlaw Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 20,306.8% in the second quarter. Laidlaw Wealth Management LLC now owns 2,810,830 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 2,797,056 shares in the last quarter. Provident Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth $34,000. FAI Wealth Management grew its stake in shares of JPMorgan Chase & Co. by 317.0% in 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 bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth $43,000. Finally, Eukles Asset Management grew its stake in shares of JPMorgan Chase & Co. by 28.7% in 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. Hedge funds and other institutional investors own 69.35% of the company’s stock.

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

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price target for the stock from $105.00 to $115.00 in a research note on Thursday, September 3rd. TheStreet upgraded JPMorgan Chase & Co. from a “c” rating to a “b-” rating in a report on Tuesday, August 4th. BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $117.00 to $119.00 and gave the company a “market perform” rating in a report on Wednesday, October 14th. Independent Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their price objective for the company from $100.00 to $110.00 in a report on Tuesday, September 29th. Finally, Keefe, Bruyette & Woods lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $125.00 to $130.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company. JPMorgan Chase & Co. presently has a consensus rating of “Buy” and an average target price of $111.34.

Shares of NYSE JPM opened at $114.57 on Friday. JPMorgan Chase & Co. has a 12 month low of $76.91 and a 12 month high of $141.10. The company has a market cap of $349.23 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 2.68 and a beta of 1.15. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $103.80 and a 200-day simple moving average of $99.04.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.69. The firm had revenue of $29.90 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 7.47 EPS for the current fiscal year.

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