Davis Rea LTD. Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Davis Rea LTD. raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 181.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 46,202 shares of the financial services provider’s stock after acquiring an additional 29,777 shares during the period. JPMorgan Chase & Co. makes up 4.2% of Davis Rea LTD.’s investment portfolio, making the stock its 11th largest position. Davis Rea LTD.’s holdings in JPMorgan Chase & Co. were worth $9,742,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in JPM. Retirement Group LLC grew its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the period. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $34,000. Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $37,000. Finally, West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JPM. Daiwa Capital Markets lowered 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. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $220.00 to $224.00 in a report on Monday, September 30th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $222.81.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $222.94 on Monday. The business has a 50 day moving average price of $216.15 and a two-hundred day moving average price of $206.90. JPMorgan Chase & Co. has a fifty-two week low of $139.23 and a fifty-two week high of $226.75. The firm has a market cap of $627.65 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 3.24 and a beta of 1.10. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the firm earned $4.33 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 17.52 earnings per share 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. Stockholders of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

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.