Principal Financial Group Inc. Buys 182,648 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Principal Financial Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,824,289 shares of the financial services provider's stock after purchasing an additional 182,648 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.7% of Principal Financial Group Inc.'s holdings, making the stock its 28th largest holding. Principal Financial Group Inc. owned approximately 0.20% of JPMorgan Chase & Co. worth $1,228,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth $27,000. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $32,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $34,000. Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. during the first quarter worth about $37,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JPM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Citigroup boosted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a "neutral" rating in a research report on Monday, July 15th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Thursday. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an "overweight" rating in a report on Monday, July 15th. Finally, Royal Bank of Canada boosted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and an average price target of $224.31.

JPMorgan Chase & Co. Trading Up 1.0 %

Shares of JPMorgan Chase & Co. stock traded up $2.43 during midday trading on Monday, reaching $239.41. The company had a trading volume of 9,013,408 shares, compared to its average volume of 9,094,714. The stock has a fifty day moving average price of $217.24 and a 200 day moving average price of $208.46. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $674.02 billion, a PE ratio of 13.40, a P/E/G ratio of 3.46 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $145.16 and a fifty-two week high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the firm earned $4.33 earnings per share. The company's revenue was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date of this dividend 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 yield of 2.09%. JPMorgan Chase & Co.'s 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.