First Fiduciary Investment Counsel Inc. Sells 2,455 Shares of JPMorgan Chase & Co. (NYSE:JPM)

First Fiduciary Investment Counsel Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,841 shares of the financial services provider's stock after selling 2,455 shares during the quarter. JPMorgan Chase & Co. makes up about 6.1% of First Fiduciary Investment Counsel Inc.'s investment portfolio, making the stock its 2nd largest holding. First Fiduciary Investment Counsel Inc.'s holdings in JPMorgan Chase & Co. were worth $30,541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WFA Asset Management Corp boosted its position in shares of JPMorgan Chase & Co. by 51.2% during the first 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 during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $1,185,000. Hoey Investments Inc. increased its holdings in shares of JPMorgan Chase & Co. by 5.9% in the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider's stock worth $4,482,000 after purchasing an additional 1,247 shares during the last quarter. Advisors Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 8.8% in the first quarter. Advisors Capital Management LLC now owns 435,744 shares of the financial services provider's stock worth $87,280,000 after buying an additional 35,403 shares in the last quarter. Finally, Flossbach Von Storch AG bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $323,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on JPM shares. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Morgan Stanley lowered JPMorgan Chase & Co. from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Daiwa Capital Markets decreased their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an "overweight" rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $224.31.

JPMorgan Chase & Co. Stock Up 1.1 %

NYSE JPM traded up $2.58 on Wednesday, reaching $242.14. 5,763,831 shares of the stock traded hands, compared to its average volume of 9,069,446. The company has a market cap of $681.71 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 3.48 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 12 month low of $146.52 and a 12 month high of $248.00. The company has a fifty day moving average price of $217.92 and a 200-day moving average price of $209.11.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.06%. This is a positive change 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 presently 27.82%.

JPMorgan Chase & Co. Profile

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.