Essex Savings Bank Acquires 2,868 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Essex Savings Bank grew its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,884 shares of the financial services provider's stock after buying an additional 2,868 shares during the period. JPMorgan Chase & Co. makes up 1.5% of Essex Savings Bank's portfolio, making the stock its 10th largest holding. Essex Savings Bank's holdings in JPMorgan Chase & Co. were worth $6,090,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. BCGM Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 2.8% during the first quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider's stock worth $3,818,000 after purchasing an additional 516 shares during the last quarter. Accredited Investors Inc. grew its stake in JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider's stock worth $2,867,000 after purchasing an additional 667 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in JPMorgan Chase & Co. by 1.4% during the 1st quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider's stock worth $17,439,000 after purchasing an additional 1,173 shares during the period. Sunburst Financial Group LLC increased its holdings in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider's stock valued at $1,143,000 after buying an additional 268 shares during the period. Finally, Sageworth Trust Co grew its stake in JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider's stock valued at $603,000 after purchasing an additional 786 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

NYSE JPM opened at $241.60 on Thursday. The stock has a fifty day simple moving average of $218.35 and a 200-day simple moving average of $209.33. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market cap of $680.19 billion, a PE ratio of 13.42, a P/E/G ratio of 3.48 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $148.46 and a twelve month high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the firm earned $4.33 EPS. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid 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 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.82%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer increased 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. Barclays raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Morgan Stanley lowered JPMorgan Chase & Co. from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Royal Bank of Canada boosted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and an average target price of $224.31.

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.