Truvestments Capital LLC Has $983,000 Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Truvestments Capital LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 104.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,663 shares of the financial services provider’s stock after purchasing an additional 2,380 shares during the period. Truvestments Capital LLC’s holdings in JPMorgan Chase & Co. were worth $983,000 at the end of the most recent reporting period.

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

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $249.75 on Thursday. The business’s 50-day simple moving average is $225.64 and its 200 day simple moving average is $213.00. The stock has a market cap of $703.13 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 3.63 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $152.72 and a 12-month high of $254.31. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. The business had revenue of $43.32 billion for 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%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.33 earnings per share. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.00%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JPM. Barclays increased their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research note on Thursday, November 7th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Daiwa Capital Markets dropped their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus price target of $229.31.

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.