JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Old North State Wealth Management LLC

Old North State Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.5% during the 3rd quarter, Holdings Channel reports. The firm owned 2,680 shares of the financial services provider’s stock after buying an additional 399 shares during the period. Old North State Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Henrickson Nauta Wealth Advisors Inc. lifted its position in JPMorgan Chase & Co. by 1.3% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 45 shares during the period. Sunburst Financial Group LLC raised its stake in shares of 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 last quarter. West Wealth Group LLC raised its stake in shares of 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 last quarter. Instrumental Wealth LLC lifted its holdings in shares of 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, Prossimo Advisors LLC increased its stake in JPMorgan Chase & Co. by 0.5% in the 3rd quarter. Prossimo Advisors LLC now owns 8,740 shares of the financial services provider’s stock valued at $1,843,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent analyst reports. Daiwa Capital Markets reduced their target price on shares of 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 upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a report on Thursday. Royal Bank of Canada upped their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $224.31.

JPMorgan Chase & Co. Stock Down 4.3 %

JPM stock opened at $236.36 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50 day simple moving average is $216.71 and its 200-day simple moving average is $207.71. JPMorgan Chase & Co. has a 12 month low of $143.62 and a 12 month high of $248.00. The firm has a market capitalization of $665.43 billion, a PE ratio of 13.15, a P/E/G ratio of 3.21 and a beta of 1.10.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 2.12%. The ex-dividend date of this dividend was 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 currently 27.82%.

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.