Sargent Investment Group LLC Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Sargent Investment Group LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,408 shares of the financial services provider’s stock after acquiring an additional 2,322 shares during the quarter. Sargent Investment Group LLC’s holdings in JPMorgan Chase & Co. were worth $4,936,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. WFA Asset Management Corp grew its position in JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 412 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $1,185,000. Hoey Investments Inc. grew its holdings in shares of JPMorgan Chase & Co. by 5.9% during the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock valued at $4,482,000 after buying an additional 1,247 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in shares of JPMorgan Chase & Co. by 0.4% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 271,231 shares of the financial services provider’s stock valued at $54,328,000 after acquiring an additional 983 shares during the period. Finally, Elite Life Management LLC raised its stake in JPMorgan Chase & Co. by 4.4% in the 1st quarter. Elite Life Management LLC now owns 1,405 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $245.18 on Tuesday. The stock has a market capitalization of $690.27 billion, a P/E ratio of 13.64, a P/E/G ratio of 3.56 and a beta of 1.10. The company’s fifty day moving average price is $220.06 and its 200 day moving average price is $210.55. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $151.92 and a 1 year high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.33 earnings per share. As a group, equities research analysts anticipate 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 given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.04%. 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 dividend payout ratio (DPR) is 27.82%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday. Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Daiwa Capital Markets decreased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $227.13.

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.