Prime Capital Investment Advisors LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,919 shares of the financial services provider's stock after acquiring an additional 15,447 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in JPMorgan Chase & Co. were worth $31,612,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Accredited Investors Inc. grew its holdings 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 during the last quarter. Bleakley Financial Group LLC increased its position 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 valued at $17,439,000 after buying an additional 1,173 shares in the last quarter. Sunburst Financial Group LLC raised its stake in JPMorgan Chase & Co. by 5.0% in 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 last quarter. Sageworth Trust Co boosted its holdings 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 worth $603,000 after acquiring an additional 786 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider's stock worth $143,594,000 after acquiring an additional 95,461 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on JPM shares. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Daiwa Capital Markets lowered their price objective 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. Royal Bank of Canada upped their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $200.00 price target for the company. in a research report on Thursday, November 7th. Finally, Morgan Stanley lowered 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 report on Monday, September 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $227.13.
Get Our Latest Analysis on JPM
JPMorgan Chase & Co. Trading Up 1.4 %
Shares of JPMorgan Chase & Co. stock opened at $245.31 on Friday. The firm has a 50-day simple moving average of $219.50 and a two-hundred day simple moving average of $210.04. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $150.09 and a fifty-two week high of $248.00. The company has a market cap of $690.63 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping 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 return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.'s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.33 EPS. As a group, equities analysts predict 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 disclosed 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 boost 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 2.04%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.82%.
JPMorgan Chase & Co. Profile
(
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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