Allspring Global Investments Holdings LLC Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Allspring Global Investments Holdings LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 805,720 shares of the financial services provider’s stock after acquiring an additional 24,129 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in JPMorgan Chase & Co. were worth $169,894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of JPM. Retirement Group LLC grew its holdings in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. in the third quarter worth approximately $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.9 %

Shares of JPM stock opened at $223.23 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.92. The firm has a market capitalization of $641.04 billion, a PE ratio of 12.45, a P/E/G ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day simple moving average is $214.37 and its 200-day simple moving average is $204.77.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating 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 firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent research reports. Oppenheimer dropped their target price 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. Barclays lifted 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. 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. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

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.