DNB Asset Management AS raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 457,676 shares of the financial services provider’s stock after buying an additional 17,452 shares during the period. DNB Asset Management AS’s holdings in JPMorgan Chase & Co. were worth $44,060,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. NuWave Investment Management LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $30,000. Laidlaw Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 20,306.8% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 2,810,830 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 2,797,056 shares during the period. Provident Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $34,000. FAI Wealth Management boosted its stake in shares of JPMorgan Chase & Co. by 317.0% in the 2nd quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 317 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 18.3% during the second quarter. Bay Harbor Wealth Management LLC now owns 692 shares of the financial services provider’s stock worth $65,000 after buying an additional 107 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.
JPM has been the topic of a number of research analyst reports. Independent Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their price target for the company from $100.00 to $110.00 in a research report on Tuesday, September 29th. BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $117.00 to $119.00 and gave the stock a “market perform” rating in a research note on Wednesday. Morgan Stanley reiterated a “buy” rating and issued a $106.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 27th. Seaport Global Securities assumed coverage on JPMorgan Chase & Co. in a report on Wednesday, July 8th. They set a “buy” rating and a $119.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $105.00 to $115.00 in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. JPMorgan Chase & Co. has a consensus rating of “Buy” and a consensus target price of $111.59.
Shares of NYSE JPM opened at $101.51 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.88 and a quick ratio of 0.88. The company has a 50-day moving average price of $99.36 and a 200-day moving average price of $96.79. The stock has a market capitalization of $309.36 billion, a P/E ratio of 13.27, a P/E/G ratio of 3.16 and a beta of 1.15. JPMorgan Chase & Co. has a 1 year low of $76.91 and a 1 year high of $141.10.
JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.69. The business had revenue of $29.90 billion for the quarter, compared to analysts’ expectations of $28.20 billion. JPMorgan Chase & Co. had a net margin of 18.16% and a return on equity of 10.75%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.68 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 6.48 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.55%. JPMorgan Chase & Co.’s dividend payout ratio is presently 34.35%.
JPMorgan Chase & Co. Company 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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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