Pin Oak Investment Advisors Inc. Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Pin Oak Investment Advisors Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.8% during the third quarter, HoldingsChannel.com reports. The firm owned 2,764 shares of the financial services provider’s stock after selling 203 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $27,000. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $32,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $34,000. Finally, West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.1 %

NYSE JPM opened at $249.98 on Friday. The company has a fifty day simple moving average of $227.21 and a two-hundred day simple moving average of $213.61. The stock has a market cap of $703.78 billion, a P/E ratio of 13.91, a P/E/G ratio of 3.63 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $154.38 and a 12-month high of $254.31. 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. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) 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 business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $4.33 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research note on Thursday, November 7th. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Two research 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.com, the company has an average rating of “Hold” and a consensus target price of $229.31.

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.