Summit Global Investments Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Summit Global Investments lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 96.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,835 shares of the financial services provider's stock after buying an additional 15,616 shares during the quarter. Summit Global Investments' holdings in JPMorgan Chase & Co. were worth $6,713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bensler LLC lifted its holdings in shares of JPMorgan Chase & Co. by 46.5% in the third quarter. Bensler LLC now owns 2,029 shares of the financial services provider's stock worth $428,000 after buying an additional 644 shares in the last quarter. Smith Thornton Advisors LLC increased its stake in JPMorgan Chase & Co. by 26.4% during the 3rd quarter. Smith Thornton Advisors LLC now owns 3,711 shares of the financial services provider's stock worth $783,000 after buying an additional 775 shares in the last quarter. First National Bank & Trust Co. of Newtown grew its stake in shares of JPMorgan Chase & Co. by 1.1% in the 3rd quarter. First National Bank & Trust Co. of Newtown now owns 8,929 shares of the financial services provider's stock valued at $1,883,000 after buying an additional 93 shares during the period. Winthrop Advisory Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 19.1% in the third quarter. Winthrop Advisory Group LLC now owns 17,135 shares of the financial services provider's stock valued at $3,613,000 after purchasing an additional 2,749 shares during the period. Finally, Lewis Asset Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 8.1% in the 3rd quarter. Lewis Asset Management LLC now owns 2,058 shares of the financial services provider's stock valued at $434,000 after acquiring an additional 155 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $0.27 during trading hours on Tuesday, reaching $239.56. The company had a trading volume of 6,845,955 shares, compared to its average volume of 9,084,472. The business has a fifty day simple moving average of $217.53 and a 200 day simple moving average of $208.78. JPMorgan Chase & Co. has a one year low of $145.16 and a one year high of $248.00. The firm has a market cap of $674.44 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. 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. (NYSE:JPM - Get Free Report) last posted 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. The firm had revenue of $43.32 billion for 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 business's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.33 earnings per share. On average, 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. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. 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 yield of 2.09%. JPMorgan Chase & Co.'s payout ratio is 27.82%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JPM. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Monday, July 15th. Royal Bank of Canada increased their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $200.00 price target on the stock. in a research note on Thursday, November 7th. Finally, Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an "overweight" rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus price target of $224.31.

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.