United Asset Strategies Inc. Acquires 1,312 Shares of JPMorgan Chase & Co. (NYSE:JPM)

United Asset Strategies Inc. increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,409 shares of the financial services provider’s stock after buying an additional 1,312 shares during the quarter. JPMorgan Chase & Co. accounts for 1.6% of United Asset Strategies Inc.’s portfolio, making the stock its 14th largest position. United Asset Strategies Inc.’s holdings in JPMorgan Chase & Co. were worth $17,166,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of JPM. International Assets Investment Management LLC bought a new stake in JPMorgan Chase & Co. in the 3rd quarter worth approximately $1,888,088,000. Swedbank AB bought a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $800,130,000. Capital Research Global Investors lifted its position in JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. lifted its position in JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after purchasing an additional 2,787,510 shares during the last quarter. Finally, Granite Bay Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 6,239.1% in the second 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 during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $222.94 on Monday. The stock has a market cap of $627.65 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 3.24 and a beta of 1.10. The business’s fifty day moving average is $216.15 and its 200 day moving average is $206.90. JPMorgan Chase & Co. has a twelve month low of $139.23 and a twelve month high of $226.75. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the prior year, the firm earned $4.33 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts expect that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.24%. 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 payout ratio is 27.82%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JPM. Oppenheimer lowered their price objective on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Daiwa Capital Markets lowered their price objective 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. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $222.81.

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.