JPMorgan Chase & Co. (NYSE:JPM) is Stone Point Wealth LLC’s 6th Largest Position

Stone Point Wealth LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.0% during the third quarter, Holdings Channel reports. The fund owned 32,189 shares of the financial services provider’s stock after selling 992 shares during the period. JPMorgan Chase & Co. comprises 2.2% of Stone Point Wealth LLC’s investment portfolio, making the stock its 6th largest position. Stone Point Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $6,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. WFA Asset Management Corp raised its holdings in shares of JPMorgan Chase & Co. by 51.2% in the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at $1,185,000. Hoey Investments Inc. lifted its holdings in JPMorgan Chase & Co. by 5.9% during the 1st quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock worth $4,482,000 after buying an additional 1,247 shares during the last quarter. Signaturefd LLC boosted its position in shares of JPMorgan Chase & Co. by 2.9% during the 1st quarter. Signaturefd LLC now owns 71,829 shares of the financial services provider’s stock worth $14,387,000 after acquiring an additional 2,028 shares in the last quarter. Finally, Capital Management Associates NY increased its holdings in shares of JPMorgan Chase & Co. by 117.7% in the 1st quarter. Capital Management Associates NY now owns 10,671 shares of the financial services provider’s stock valued at $2,137,000 after acquiring an additional 5,769 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research analyst reports. Evercore ISI upped their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Daiwa Capital Markets reduced their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $224.31.

JPMorgan Chase & Co. Trading Up 1.0 %

Shares of JPM stock opened at $239.41 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $145.16 and a fifty-two week high of $248.00. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The business has a fifty day simple moving average of $217.24 and a 200-day simple moving average of $208.46. The stock has a market cap of $674.02 billion, a P/E ratio of 13.32, a P/E/G ratio of 3.46 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 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.