Equita Financial Network Inc. bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,070 shares of the financial services provider’s stock, valued at approximately $226,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of JPM. WFA Asset Management Corp lifted its position in JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after buying an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $1,185,000. Freestone Capital Holdings LLC boosted its position in JPMorgan Chase & Co. by 4.2% during the first quarter. Freestone Capital Holdings LLC now owns 106,829 shares of the financial services provider’s stock valued at $21,398,000 after purchasing an additional 4,296 shares during the last quarter. EP Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 0.7% in the first quarter. EP Wealth Advisors LLC now owns 640,857 shares of the financial services provider’s stock valued at $128,364,000 after purchasing an additional 4,253 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 3.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 167,057 shares of the financial services provider’s stock worth $33,462,000 after purchasing an additional 6,280 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently weighed in on JPM shares. Daiwa Capital Markets decreased 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. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $229.31.
JPMorgan Chase & Co. Trading Up 1.5 %
NYSE JPM opened at $248.55 on Friday. JPMorgan Chase & Co. has a twelve month low of $152.71 and a twelve month high of $249.15. The business’s fifty day moving average is $223.14 and its 200 day moving average is $211.90. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market cap of $699.75 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.33 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.82%.
JPMorgan Chase & Co. Company 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.
Featured Articles
- Five stocks we like better than JPMorgan Chase & Co.
- Energy and Oil Stocks Explained
- Vertiv’s Cool Tech Makes Its Stock Red-Hot
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- MarketBeat Week in Review – 11/18 – 11/22
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- 2 Finance Stocks With Competitive Advantages You Can’t Ignore
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.