Kinsale Capital Group Inc. lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,357 shares of the financial services provider's stock after buying an additional 5,248 shares during the quarter. JPMorgan Chase & Co. accounts for 2.4% of Kinsale Capital Group Inc.'s portfolio, making the stock its 8th biggest holding. Kinsale Capital Group Inc.'s holdings in JPMorgan Chase & Co. were worth $8,299,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Accredited Investors Inc. boosted its stake in shares of JPMorgan Chase & Co. by 4.9% during the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider's stock worth $2,867,000 after acquiring an additional 667 shares in the last quarter. Sunburst Financial Group LLC raised 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 worth $1,143,000 after purchasing an additional 268 shares during the last quarter. Sageworth Trust Co boosted its position in JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider's stock worth $603,000 after purchasing an additional 786 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider's stock valued at $143,594,000 after purchasing an additional 95,461 shares during the last quarter. Finally, Czech National Bank increased its position in shares of JPMorgan Chase & Co. by 7.6% in the second quarter. Czech National Bank now owns 547,224 shares of the financial services provider's stock valued at $110,682,000 after buying an additional 38,548 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on JPM shares. Morgan Stanley cut shares of JPMorgan Chase & Co. from an "overweight" rating to an "equal weight" rating and increased their price objective for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Royal Bank of Canada raised their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Finally, Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $200.00 price objective on the stock. in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $229.31.
Check Out Our Latest Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Stock Performance
Shares of JPM stock opened at $240.78 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $677.88 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $152.57 and a one year high of $248.00. The company has a 50 day moving average price of $221.48 and a 200 day moving average price of $211.13.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its 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. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period last year, the company posted $4.33 EPS. The business's quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid 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 dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.'s payout ratio is currently 27.82%.
JPMorgan Chase & Co. Profile
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Free Report)
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.
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