Equita Financial Network Inc. Acquires New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Equita Financial Network Inc. bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,070 shares of the financial services provider’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of JPM. WFA Asset Management Corp lifted 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 buying an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $1,185,000. Freestone Capital Holdings LLC boosted its position in JPMorgan Chase & Co. by 4.2% during the first quarter. Freestone Capital Holdings LLC now owns 106,829 shares of the financial services provider’s stock valued at $21,398,000 after purchasing an additional 4,296 shares during the last quarter. EP Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 0.7% in the first quarter. EP Wealth Advisors LLC now owns 640,857 shares of the financial services provider’s stock valued at $128,364,000 after purchasing an additional 4,253 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 3.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 167,057 shares of the financial services provider’s stock worth $33,462,000 after purchasing an additional 6,280 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on JPM shares. Daiwa Capital Markets decreased their target price 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. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective 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. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Trading Up 1.5 %

NYSE JPM opened at $248.55 on Friday. JPMorgan Chase & Co. has a twelve month low of $152.71 and a twelve month high of $249.15. The business’s fifty day moving average is $223.14 and its 200 day moving average is $211.90. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market cap of $699.75 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 3.55 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, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.33 earnings per share. As a group, sell-side analysts expect 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. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.