Cito Capital Group LLC Has $2.95 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Cito Capital Group LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 12.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 18,019 shares of the financial services provider’s stock after selling 2,494 shares during the period. JPMorgan Chase & Co. comprises 1.4% of Cito Capital Group LLC’s investment portfolio, making the stock its 9th biggest position. Cito Capital Group LLC’s holdings in JPMorgan Chase & Co. were worth $2,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of JPM. Turim 21 Investimentos Ltda. purchased a new position in JPMorgan Chase & Co. in the second quarter valued at about $36,000. Advocacy Wealth Management Services LLC boosted its stake in JPMorgan Chase & Co. by 94.3% in the third quarter. Advocacy Wealth Management Services LLC now owns 309 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 150 shares during the last quarter. PFG Private Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $59,000. Capital Directions Investment Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 27.7% during the 2nd quarter. Capital Directions Investment Advisors LLC now owns 392 shares of the financial services provider’s stock valued at $61,000 after buying an additional 85 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC lifted its stake in shares of JPMorgan Chase & Co. by 146.1% during the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 374 shares of the financial services provider’s stock valued at $61,000 after buying an additional 222 shares in the last quarter. 69.32% of the stock is owned by institutional investors and hedge funds.

NYSE:JPM traded down $9.81 during trading hours on Friday, hitting $158.42. 1,454,897 shares of the stock traded hands, compared to its average volume of 11,865,099. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.17. JPMorgan Chase & Co. has a 1 year low of $127.35 and a 1 year high of $172.96. The company has a market cap of $468.17 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 2.82 and a beta of 1.13. The stock has a 50 day moving average price of $162.40 and a 200 day moving average price of $160.73.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, October 13th. The financial services provider reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.74. JPMorgan Chase & Co. had a net margin of 39.41% and a return on equity of 19.89%. The business had revenue of $29.60 billion for the quarter, compared to the consensus estimate of $29.63 billion. During the same quarter in the previous year, the firm earned $2.92 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 15.01 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 31st. Shareholders of record on Thursday, January 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, January 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.30%.

A number of brokerages recently commented on JPM. Zacks Investment Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research note on Tuesday, September 28th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating and set a $185.00 target price on the stock. in a research note on Tuesday, January 4th. Credit Suisse Group set a $177.00 price target on shares of JPMorgan Chase & Co. in a report on Thursday, October 14th. Jefferies Financial Group increased their price target on shares of JPMorgan Chase & Co. from $177.00 to $198.00 and gave the stock a “buy” rating in a report on Monday, October 11th. Finally, Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $166.00 to $184.00 and gave the stock an “underweight” rating in a report on Monday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $176.42.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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