RKL Wealth Management LLC Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

RKL Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,512 shares of the financial services provider’s stock after buying an additional 207 shares during the period. RKL Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. GSG Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 10.4% in the third quarter. GSG Advisors LLC now owns 3,499 shares of the financial services provider’s stock worth $724,000 after purchasing an additional 331 shares during the period. Essex Savings Bank increased its holdings in shares of JPMorgan Chase & Co. by 11.0% in the third quarter. Essex Savings Bank now owns 28,884 shares of the financial services provider’s stock worth $6,090,000 after purchasing an additional 2,868 shares during the period. Oxbow Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 3.4% in the third quarter. Oxbow Advisors LLC now owns 2,149 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 70 shares during the period. Objective Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth $1,623,000. Finally, TCTC Holdings LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.9% in the third quarter. TCTC Holdings LLC now owns 388,530 shares of the financial services provider’s stock worth $81,925,000 after purchasing an additional 3,315 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $241.93 on Friday. The company has a 50-day simple moving average of $218.35 and a two-hundred day simple moving average of $209.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12-month low of $148.46 and a 12-month high of $248.00. The firm has a market cap of $681.12 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 3.48 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.33 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Daiwa Capital Markets reduced their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Oppenheimer increased their target price on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average 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.