Smith Group Asset Management LLC Has $22.99 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Smith Group Asset Management LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 109,040 shares of the financial services provider’s stock after purchasing an additional 2,254 shares during the quarter. JPMorgan Chase & Co. comprises 1.9% of Smith Group Asset Management LLC’s portfolio, making the stock its 28th biggest holding. Smith Group Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $22,992,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in JPM. International Assets Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $1,888,088,000. Swedbank AB bought a new stake in JPMorgan Chase & Co. in the first quarter valued at about $800,130,000. Capital Research Global Investors lifted its stake in JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Wulff Hansen & CO. lifted its position in shares of JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after buying an additional 2,787,510 shares during the period. Finally, Granite Bay Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after purchasing an additional 1,396,194 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $221.92 on Friday. The firm’s 50 day moving average price is $216.06 and its two-hundred day moving average price is $206.26. The stock has a market cap of $631.40 billion, a PE ratio of 12.35, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $137.47 and a 52-week high of $226.75. 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 announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 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 analysts’ expectations of $41.43 billion. During the same period in the previous year, the firm earned $4.33 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Evercore ISI increased their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada increased their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.