Wallington Asset Management LLC Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

Wallington Asset Management LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 42.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,983 shares of the financial services provider’s stock after purchasing an additional 1,489 shares during the quarter. Wallington Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,051,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Retirement Group LLC increased its position 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 worth $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $34,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $34,000. Finally, Davidson Capital Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the first quarter valued at $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 1.2 %

JPMorgan Chase & Co. stock opened at $222.28 on Friday. The firm’s 50-day moving average is $215.23 and its 200-day moving average is $205.23. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.92. The company has a market cap of $638.31 billion, a P/E ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period last year, the firm posted $4.33 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, BMO Capital Markets upped their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.