Patrick M Sweeney & Associates Inc. Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

Patrick M Sweeney & Associates Inc. raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.2% in the third quarter, HoldingsChannel.com reports. The firm owned 24,060 shares of the financial services provider’s stock after buying an additional 59 shares during the period. JPMorgan Chase & Co. comprises about 3.7% of Patrick M Sweeney & Associates Inc.’s investment portfolio, making the stock its 5th biggest holding. Patrick M Sweeney & Associates Inc.’s holdings in JPMorgan Chase & Co. were worth $5,073,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of JPM. Retirement Group LLC lifted its stake in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at $32,000. Richardson Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at $34,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JPM shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Daiwa Capital Markets reduced their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Oppenheimer lowered their price objective on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $222.31 on Friday. The business’s 50-day moving average price is $215.39 and its two-hundred day moving average price is $205.45. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.92. The company has a market capitalization of $638.40 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the business posted $4.33 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.25%. 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%.

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.