Morton Capital Management LLC CA Raises Stake in JPMorgan Chase & Co. (NYSE:JPM)

Morton Capital Management LLC CA increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 20.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,570 shares of the financial services provider’s stock after acquiring an additional 1,963 shares during the period. JPMorgan Chase & Co. makes up about 0.5% of Morton Capital Management LLC CA’s investment portfolio, making the stock its 19th biggest position. Morton Capital Management LLC CA’s holdings in JPMorgan Chase & Co. were worth $2,440,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Retirement Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the last quarter. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $34,000. Finally, Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.2 %

JPM opened at $212.91 on Thursday. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $611.41 billion, a PE ratio of 11.90, a P/E/G ratio of 2.39 and a beta of 1.11. The firm’s fifty day moving average price is $211.22 and its 200 day moving average price is $203.39.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the prior year, the business posted $4.37 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 16.72 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Wall Street Analysts Forecast Growth

Several analysts have commented on JPM shares. Barclays lifted their target price on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.13.

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.