Gladstone Institutional Advisory LLC Has $17.11 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Gladstone Institutional Advisory LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 34.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,121 shares of the financial services provider’s stock after selling 42,884 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of Gladstone Institutional Advisory LLC’s investment portfolio, making the stock its 23rd biggest holding. Gladstone Institutional Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $17,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Henrickson Nauta Wealth Advisors Inc. lifted its position in JPMorgan Chase & Co. by 1.3% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 45 shares during the period. Sunburst Financial Group LLC lifted its position in JPMorgan Chase & Co. by 0.8% during the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after purchasing an additional 45 shares during the period. West Wealth Group LLC lifted its position in JPMorgan Chase & Co. by 3.6% during the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 46 shares during the period. Instrumental Wealth LLC lifted its position in JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the period. Finally, Gemmer Asset Management LLC lifted its position in JPMorgan Chase & Co. by 1.6% during the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 48 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada boosted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Daiwa Capital Markets lowered their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Barclays boosted their target price 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. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $222.81.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $219.78 on Tuesday. The company has a market capitalization of $618.76 billion, a PE ratio of 12.23, a P/E/G ratio of 3.24 and a beta of 1.10. The company has a 50 day simple moving average of $216.17 and a two-hundred day simple moving average of $207.18. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.91 and a current ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $142.79 and a fifty-two week high of $226.75.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.33 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend 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.