JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Westchester Capital Management Inc.

Westchester Capital Management Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,665 shares of the financial services provider's stock after selling 2,825 shares during the quarter. JPMorgan Chase & Co. makes up 4.6% of Westchester Capital Management Inc.'s investment portfolio, making the stock its 7th largest holding. Westchester Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $18,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter worth $27,000. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the second quarter valued at $32,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth about $34,000. West Financial Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter worth about $37,000. Finally, New England Capital Financial Advisors LLC grew its stake in JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 7th. Barclays lifted their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $224.31.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $241.60 on Thursday. The stock has a market capitalization of $680.19 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 3.48 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 1 year low of $148.46 and a 1 year high of $248.00. The firm has a 50 day moving average of $218.35 and a 200-day moving average of $209.33.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its 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 company had revenue of $43.32 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.33 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, October 4th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.15. JPMorgan Chase & Co.'s payout ratio is 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.