JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Altus Wealth Group LLC

Altus Wealth Group LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.5% during the 3rd quarter, Holdings Channel reports. The firm owned 7,695 shares of the financial services provider’s stock after purchasing an additional 668 shares during the period. Altus Wealth Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,623,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Retirement Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 227.1% in 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 during the last quarter. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter valued at $32,000. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the second quarter valued at $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter worth about $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JPM. Daiwa Capital Markets reduced their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Royal Bank of Canada boosted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted 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. Finally, Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $222.28 on Friday. The firm has a fifty day moving average of $215.23 and a two-hundred day moving average of $205.23. The stock has a market capitalization of $638.31 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.92. 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. (NYSE:JPM) last released its quarterly earnings data 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 net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the company earned $4.33 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend 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.