Heritage Wealth Management Inc. Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Heritage Wealth Management Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 3rd quarter, Holdings Channel reports. The fund owned 33,911 shares of the financial services provider’s stock after selling 184 shares during the period. JPMorgan Chase & Co. comprises 2.3% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Heritage Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $7,151,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the second quarter worth approximately $34,000. Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at $37,000. Finally, West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research reports. Oppenheimer raised their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada lifted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Daiwa Capital Markets dropped their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $224.31.

JPMorgan Chase & Co. Stock Up 1.0 %

JPM stock opened at $239.41 on Tuesday. The company has a 50 day moving average of $217.24 and a two-hundred day moving average of $208.46. The company has a market cap of $674.02 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 3.46 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $145.16 and a 12-month high of $248.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

JPMorgan Chase & Co. Company 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.