Financial Strategies Group Inc. Has $7.35 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Financial Strategies Group Inc. raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,171 shares of the financial services provider’s stock after buying an additional 175 shares during the quarter. JPMorgan Chase & Co. comprises 1.6% of Financial Strategies Group Inc.’s portfolio, making the stock its 18th biggest position. Financial Strategies Group Inc.’s holdings in JPMorgan Chase & Co. were worth $7,347,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $27,000. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $34,000. Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $37,000. Finally, West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. during the 3rd quarter worth about $37,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 1.0 %

Shares of JPM stock opened at $239.41 on Tuesday. The stock has a market cap of $674.02 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $145.16 and a 1 year high of $248.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a 50 day simple moving average of $217.24 and a 200 day simple moving average of $208.46.

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 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 company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm posted $4.33 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Wall Street Analyst Weigh In

JPM has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Finally, Barclays increased their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $224.31.

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.