Addison Capital Co Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Addison Capital Co lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,125 shares of the financial services provider’s stock after selling 288 shares during the period. JPMorgan Chase & Co. makes up 2.7% of Addison Capital Co’s investment portfolio, making the stock its 10th largest holding. Addison Capital Co’s holdings in JPMorgan Chase & Co. were worth $6,774,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Retirement Group LLC boosted its stake in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. in the second quarter worth about $32,000. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the first quarter worth about $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the second quarter worth about $34,000. Finally, Davidson Capital Management Inc. purchased a new position in JPMorgan Chase & Co. in the first quarter worth about $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Oppenheimer decreased their target price on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Daiwa Capital Markets decreased their price objective 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. Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Trading Up 0.4 %

Shares of JPM opened at $225.37 on Friday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.92. The company has a market cap of $647.19 billion, a P/E ratio of 12.57, a P/E/G ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $214.03 and its 200-day simple moving average is $204.54.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share 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 the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm posted $4.33 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.22%. The ex-dividend date is 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 (DPR) is currently 27.89%.

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.