Concentric Wealth Management LLC Has $8.86 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Concentric Wealth Management LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,011 shares of the financial services provider’s stock after selling 565 shares during the period. JPMorgan Chase & Co. makes up about 2.2% of Concentric Wealth Management LLC’s portfolio, making the stock its 9th biggest holding. Concentric Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,858,000 at the end of the most recent reporting period.

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 stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $32,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $37,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.1 %

JPM opened at $249.75 on Thursday. The firm has a market cap of $703.13 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 3.63 and a beta of 1.10. 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 12 month low of $152.72 and a 12 month high of $254.31. The stock has a fifty day moving average price of $225.64 and a 200-day moving average price of $213.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.33 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.00%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on JPM shares. Citigroup increased their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Evercore ISI increased their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Barclays increased their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average 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.