Objective Capital Management LLC Takes $1.62 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Objective Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,698 shares of the financial services provider's stock, valued at approximately $1,623,000.

A number of other hedge funds have also recently modified their holdings of JPM. TCTC Holdings LLC increased its stake in JPMorgan Chase & Co. by 0.9% in the third quarter. TCTC Holdings LLC now owns 388,530 shares of the financial services provider's stock valued at $81,925,000 after purchasing an additional 3,315 shares during the period. Carmel Capital Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.5% during the third quarter. Carmel Capital Partners LLC now owns 3,534 shares of the financial services provider's stock worth $745,000 after buying an additional 118 shares during the last quarter. Lindbrook Capital LLC increased its position in JPMorgan Chase & Co. by 17.4% in the 3rd quarter. Lindbrook Capital LLC now owns 39,950 shares of the financial services provider's stock valued at $8,424,000 after acquiring an additional 5,920 shares during the period. 5th Street Advisors LLC raised its stake in JPMorgan Chase & Co. by 19.3% during the 3rd quarter. 5th Street Advisors LLC now owns 7,058 shares of the financial services provider's stock valued at $1,488,000 after acquiring an additional 1,140 shares during the last quarter. Finally, Klingman & Associates LLC lifted its position in JPMorgan Chase & Co. by 11.1% during the 3rd quarter. Klingman & Associates LLC now owns 27,257 shares of the financial services provider's stock worth $5,747,000 after acquiring an additional 2,725 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $200.00 price objective on the stock. in a report on Thursday, November 7th. Morgan Stanley downgraded JPMorgan Chase & Co. from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Barclays lifted their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Finally, Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $224.31.

JPMorgan Chase & Co. Stock Up 0.2 %

Shares of JPMorgan Chase & Co. stock opened at $241.60 on Thursday. The company has a fifty day moving average price of $218.35 and a 200 day moving average price 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. JPMorgan Chase & Co. has a twelve month low of $148.46 and a twelve month high of $248.00. The stock has a market cap of $680.19 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $43.32 billion during 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 firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.33 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced 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. 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 annualized dividend and a dividend yield of 2.07%. JPMorgan Chase & Co.'s dividend payout ratio is 27.82%.

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.