Maiden Cove Capital LLC Purchases New Position in JPMorgan Chase & Co. (NYSE:JPM)

Maiden Cove Capital LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,688 shares of the financial services provider’s stock, valued at approximately $552,000. JPMorgan Chase & Co. comprises 1.1% of Maiden Cove Capital LLC’s portfolio, making the stock its 25th largest holding.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at about $1,888,088,000. Swedbank AB acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $800,130,000. Capital Research Global Investors increased its holdings in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Wulff Hansen & CO. raised its position in shares of JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after buying an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 6,239.1% in the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after buying an additional 1,396,194 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.3 %

Shares of JPM opened at $241.93 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $148.46 and a 1-year high of $248.00. The company has a market capitalization 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. The firm’s 50 day simple moving average is $218.35 and its 200 day simple moving average is $209.33.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period last year, the business earned $4.33 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal 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 Ratings Changes

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. 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 report on Monday, October 14th. Oppenheimer upped their price target on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $224.31.

JPMorgan Chase & Co. Company 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.