Firethorn Wealth Partners LLC Has $577,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Firethorn Wealth Partners LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.8% in the third quarter, HoldingsChannel.com reports. The firm owned 2,735 shares of the financial services provider’s stock after selling 78 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $577,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth $32,000. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.4 %

JPM opened at $224.45 on Friday. The stock has a market capitalization of $644.55 billion, a P/E ratio of 12.52, a P/E/G ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.85. The firm’s fifty day simple moving average is $213.63 and its 200 day simple moving average is $204.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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 20.32% and a return on equity of 17.26%. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the previous year, the firm posted $4.33 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.23%. JPMorgan Chase & Co.’s payout ratio is 27.89%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Daiwa Capital Markets lowered their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Finally, Royal Bank of Canada boosted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

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.