Meridiem Investment Management Ltd. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 385.7% during the third quarter, Holdings Channel reports. The institutional investor owned 1,360 shares of the financial services provider’s stock after buying an additional 1,080 shares during the period. Meridiem Investment Management Ltd.’s holdings in JPMorgan Chase & Co. were worth $287,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Retirement Group LLC increased its stake in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on JPM. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. BMO Capital Markets upped their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Piper Sandler upped their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.94.
JPMorgan Chase & Co. Price Performance
NYSE JPM opened at $225.37 on Monday. The company has a 50-day moving average price of $214.03 and a two-hundred day moving average price of $204.58. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.92. The stock 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 current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business 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 company posted $4.33 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS 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 paid a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, October 4th. 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.
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