Claro Advisors LLC Has $1.92 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Claro Advisors LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 78.7% during the third quarter, HoldingsChannel reports. The firm owned 9,122 shares of the financial services provider’s stock after selling 33,725 shares during the quarter. Claro Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,923,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Marest Capital LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Marest Capital LLC now owns 16,767 shares of the financial services provider’s stock valued at $3,535,000 after purchasing an additional 48 shares during the last quarter. Sax Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 21.4% in the 3rd quarter. Sax Wealth Advisors LLC now owns 13,461 shares of the financial services provider’s stock valued at $2,838,000 after purchasing an additional 2,369 shares during the last quarter. BCS Wealth Management boosted its position in JPMorgan Chase & Co. by 57.3% in the third quarter. BCS Wealth Management now owns 3,106 shares of the financial services provider’s stock valued at $655,000 after buying an additional 1,131 shares in the last quarter. Kozak & Associates Inc. grew its stake in shares of JPMorgan Chase & Co. by 3.1% during the third quarter. Kozak & Associates Inc. now owns 7,655 shares of the financial services provider’s stock worth $1,712,000 after buying an additional 229 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC grew its stake in shares of JPMorgan Chase & Co. by 1.8% during the third quarter. Onyx Bridge Wealth Group LLC now owns 13,763 shares of the financial services provider’s stock worth $2,902,000 after buying an additional 237 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Daiwa Capital Markets lowered their price objective on 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. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $225.37 on Friday. The firm has a 50 day moving average of $214.03 and a 200-day moving average of $204.54. The company has a market cap of $647.19 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.33 EPS. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business 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 dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

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.