Belmont Capital LLC Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Belmont Capital LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 30.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,738 shares of the financial services provider's stock after selling 5,198 shares during the period. JPMorgan Chase & Co. makes up approximately 0.4% of Belmont Capital LLC's portfolio, making the stock its 22nd biggest holding. Belmont Capital LLC's holdings in JPMorgan Chase & Co. were worth $2,475,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of JPM. WFA Asset Management Corp boosted its stake in shares of JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider's stock worth $244,000 after acquiring an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $1,185,000. Vaughan David Investments LLC IL increased its position in shares of JPMorgan Chase & Co. by 0.3% in the first quarter. Vaughan David Investments LLC IL now owns 375,210 shares of the financial services provider's stock valued at $75,155,000 after buying an additional 1,191 shares in the last quarter. Oxford Financial Group LTD. LLC raised its stake in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. Oxford Financial Group LTD. LLC now owns 44,447 shares of the financial services provider's stock worth $8,903,000 after buying an additional 171 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of JPMorgan Chase & Co. by 2.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,379,891 shares of the financial services provider's stock valued at $477,238,000 after buying an additional 46,551 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JPM. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Oppenheimer lowered shares of JPMorgan Chase & Co. from an "outperform" rating to a "market perform" rating in a research note on Wednesday. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $229.31.

JPMorgan Chase & Co. Trading Up 1.5 %

Shares of JPM traded up $3.79 during mid-day trading on Friday, reaching $248.55. The stock had a trading volume of 7,997,307 shares, compared to its average volume of 9,405,694. JPMorgan Chase & Co. has a 52-week low of $152.71 and a 52-week high of $249.15. The firm has a market cap of $699.75 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 3.55 and a beta of 1.10. The business's fifty day moving average is $223.14 and its 200 day moving average is $211.90. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. JPMorgan Chase & Co.'s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.33 EPS. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 EPS 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. Shareholders of record on Friday, October 4th were given 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 yield of 2.01%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.15. JPMorgan Chase & Co.'s payout ratio is currently 27.82%.

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.