Sycomore Asset Management Takes Position in JPMorgan Chase & Co. (NYSE:JPM)

Sycomore Asset Management acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 16,671 shares of the financial services provider's stock, valued at approximately $3,497,000.

Several other hedge funds have also recently bought and sold shares of JPM. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at $27,000. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $32,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at $37,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

JPM traded down $2.00 during trading on Tuesday, hitting $243.03. The stock had a trading volume of 6,791,404 shares, compared to its average volume of 9,100,539. The company has a 50 day simple moving average of $220.06 and a 200-day simple moving average of $210.55. JPMorgan Chase & Co. has a 12 month low of $151.92 and a 12 month high of $248.00. The firm has a market cap of $684.21 billion, a PE ratio of 13.53, a P/E/G ratio of 3.56 and a beta of 1.10. 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. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS 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 company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the business posted $4.33 EPS. The company's revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 an increase 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 2.06%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.82%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JPM. Royal Bank of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an "overweight" rating in a report on Friday. Citigroup increased their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday. Morgan Stanley cut 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 report on Monday, September 30th. Finally, Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $229.31.

JPMorgan Chase & Co. Profile

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.