Covenant Partners LLC Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Covenant Partners LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,718 shares of the financial services provider’s stock after purchasing an additional 267 shares during the period. JPMorgan Chase & Co. comprises about 0.5% of Covenant Partners LLC’s holdings, making the stock its 27th largest holding. Covenant Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Retirement Group LLC lifted 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 buying an additional 109 shares during the last quarter. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $34,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 1.2 %

JPM stock opened at $222.90 on Wednesday. The company has a market cap of $640.09 billion, a price-to-earnings ratio of 12.43, a PEG 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. The business has a fifty day simple moving average of $215.76 and a 200-day simple moving average of $206.02. JPMorgan Chase & Co. has a 52 week low of $136.04 and a 52 week high of $226.75.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.33 EPS. On average, equities research analysts expect 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. Shareholders of record on Friday, October 4th will be given a $1.25 dividend. 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 yield of 2.24%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on JPM shares. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research report 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 report on Monday, October 14th. Citigroup boosted their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Daiwa Capital Markets decreased their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $217.94.

About JPMorgan Chase & Co.

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.