Wharton Business Group LLC Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Wharton Business Group LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,755 shares of the financial services provider’s stock after purchasing an additional 22,131 shares during the period. JPMorgan Chase & Co. accounts for about 2.1% of Wharton Business Group LLC’s portfolio, making the stock its 16th biggest position. Wharton Business Group LLC’s holdings in JPMorgan Chase & Co. were worth $46,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. WFA Asset Management Corp raised its position in JPMorgan Chase & Co. by 51.2% in 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 period. China Universal Asset Management Co. Ltd. bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $1,185,000. Vaughan David Investments LLC IL raised its holdings in shares of JPMorgan Chase & Co. by 0.3% in the first quarter. Vaughan David Investments LLC IL now owns 375,210 shares of the financial services provider’s stock worth $75,155,000 after buying an additional 1,191 shares during the period. Oxford Financial Group LTD. LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. Oxford Financial Group LTD. LLC now owns 44,447 shares of the financial services provider’s stock worth $8,903,000 after acquiring an additional 171 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in JPMorgan Chase & Co. by 2.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,379,891 shares of the financial services provider’s stock valued at $477,238,000 after acquiring an additional 46,551 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $248.56 on Friday. The stock’s 50-day moving average is $223.14 and its 200 day moving average is $211.76. JPMorgan Chase & Co. has a 1-year low of $152.71 and a 1-year high of $249.15. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $699.78 billion, a P/E ratio of 13.83, a PEG ratio of 3.53 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share 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 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. 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 yield of 2.01%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Royal Bank of Canada raised their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $229.31.

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.