Fortitude Family Office LLC Purchases 2,981 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Fortitude Family Office LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 40.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,389 shares of the financial services provider’s stock after purchasing an additional 2,981 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.9% of Fortitude Family Office LLC’s holdings, making the stock its 23rd biggest holding. Fortitude Family Office LLC’s holdings in JPMorgan Chase & Co. were worth $2,191,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in JPM. International Assets Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $1,888,088,000. Swedbank AB bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $800,130,000. Capital Research Global Investors grew its holdings in shares of JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. grew its holdings in shares of JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after purchasing an additional 2,787,510 shares during the last quarter. Finally, Granite Bay Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after purchasing an additional 1,396,194 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on JPM shares. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $222.94 on Friday. The company has a market capitalization of $634.30 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 3.28 and a beta of 1.11. The firm’s 50 day simple moving average is $216.15 and its 200 day simple moving average is $206.54. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.91. JPMorgan Chase & Co. has a fifty-two week low of $139.23 and a fifty-two week high of $226.75.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly 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 for 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%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.33 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 17.52 earnings per share for the current 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 given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.