Lummis Asset Management LP Grows Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Lummis Asset Management LP boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 371.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 858 shares of the financial services provider’s stock after buying an additional 676 shares during the quarter. Lummis Asset Management LP’s holdings in JPMorgan Chase & Co. were worth $181,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of JPM. WFA Asset Management Corp increased its position in shares of JPMorgan Chase & Co. by 51.2% in the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 412 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in JPMorgan Chase & Co. in the first quarter valued at about $1,185,000. Hoey Investments Inc. raised its stake in JPMorgan Chase & Co. by 5.9% during the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock valued at $4,482,000 after buying an additional 1,247 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its holdings in JPMorgan Chase & Co. by 0.4% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 271,231 shares of the financial services provider’s stock worth $54,328,000 after buying an additional 983 shares during the last quarter. Finally, Elite Life Management LLC grew its position in shares of JPMorgan Chase & Co. by 4.4% in the 1st quarter. Elite Life Management LLC now owns 1,405 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 59 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $245.18 on Tuesday. The company has a 50-day simple moving average of $220.06 and a 200 day simple moving average of $210.55. The company has a market capitalization of $690.27 billion, a P/E ratio of 13.64, a PEG ratio of 3.56 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a fifty-two week low of $151.92 and a fifty-two week high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same period in the prior year, the business posted $4.33 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Analysts Set New Price Targets

A number of equities analysts have commented on JPM shares. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Evercore ISI upped their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $227.13.

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.