Covestor Ltd Has $309,000 Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Covestor Ltd lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 13.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,461 shares of the financial services provider’s stock after buying an additional 177 shares during the period. Covestor Ltd’s holdings in JPMorgan Chase & Co. were worth $309,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mach 1 Financial Group LLC increased its holdings in JPMorgan Chase & Co. by 12.5% during the 3rd quarter. Mach 1 Financial Group LLC now owns 4,369 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 485 shares in the last quarter. RKL Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 1.1% during the 3rd quarter. RKL Wealth Management LLC now owns 19,512 shares of the financial services provider’s stock valued at $4,114,000 after purchasing an additional 207 shares in the last quarter. GSG Advisors LLC increased its holdings in JPMorgan Chase & Co. by 10.4% during the 3rd quarter. GSG Advisors LLC now owns 3,499 shares of the financial services provider’s stock valued at $724,000 after purchasing an additional 331 shares in the last quarter. Essex Savings Bank increased its holdings in JPMorgan Chase & Co. by 11.0% during the 3rd quarter. Essex Savings Bank now owns 28,884 shares of the financial services provider’s stock valued at $6,090,000 after purchasing an additional 2,868 shares in the last quarter. Finally, Oxbow Advisors LLC boosted its position in JPMorgan Chase & Co. by 3.4% in the 3rd quarter. Oxbow Advisors LLC now owns 2,149 shares of the financial services provider’s stock valued at $453,000 after buying an additional 70 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on JPM shares. Oppenheimer increased their price objective on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Evercore ISI increased 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. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, Royal Bank of Canada increased their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $224.31.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $241.93 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s 50-day simple moving average is $218.35 and its 200 day simple moving average is $209.33. The company has a market cap of $681.12 billion, a P/E ratio of 13.46, a P/E/G ratio of 3.48 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $148.46 and a 52-week high of $248.00.

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 for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.33 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s 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.