Dixon Mitchell Investment Counsel Inc. Increases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144,932 shares of the financial services provider’s stock after buying an additional 7,472 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.4% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 29th biggest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $30,560,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cooper Financial Group boosted its holdings in JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after acquiring an additional 984 shares during the last quarter. Aspiriant LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.1% during the 1st quarter. Aspiriant LLC now owns 29,728 shares of the financial services provider’s stock worth $5,955,000 after purchasing an additional 320 shares during the period. BCGM Wealth Management LLC increased its position in JPMorgan Chase & Co. by 2.8% during the 1st quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock worth $3,818,000 after purchasing an additional 516 shares in the last quarter. Accredited Investors Inc. raised its holdings in JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 667 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in JPMorgan Chase & Co. by 1.4% in the first quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock valued at $17,439,000 after buying an additional 1,173 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JPM has been the subject of several recent research reports. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Oppenheimer cut their price objective on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Jefferies Financial Group boosted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Barclays increased their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. 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. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $225.37 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.92. The firm’s 50-day simple moving average is $214.03 and its 200-day simple moving average is $204.58. The firm has a market cap of $647.19 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

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 the consensus estimate of $4.02 by $0.35. The firm 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 17.26% and a net margin of 20.32%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.33 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 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.