Optas LLC Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Optas LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 35.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,971 shares of the financial services provider’s stock after buying an additional 4,167 shares during the period. JPMorgan Chase & Co. accounts for 0.8% of Optas LLC’s portfolio, making the stock its 26th biggest holding. Optas LLC’s holdings in JPMorgan Chase & Co. were worth $3,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Henrickson Nauta Wealth Advisors Inc. raised its position in JPMorgan Chase & Co. by 1.3% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares during the period. Sunburst Financial Group LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 45 shares during the last quarter. West Wealth Group LLC raised its holdings in JPMorgan Chase & Co. by 3.6% during the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after buying an additional 46 shares during the period. Instrumental Wealth LLC lifted its position in JPMorgan Chase & Co. by 4.5% in the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after buying an additional 47 shares during the last quarter. Finally, Gemmer Asset Management LLC boosted its stake in JPMorgan Chase & Co. by 1.6% during the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after buying an additional 48 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on JPM shares. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Evercore ISI upped their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $223.38.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $221.58 on Wednesday. JPMorgan Chase & Co. has a 1-year low of $142.79 and a 1-year high of $226.75. The business has a 50-day moving average price of $216.19 and a 200 day moving average price of $207.43. The company has a market capitalization of $623.82 billion, a P/E ratio of 12.33, a PEG ratio of 3.25 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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 net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business posted $4.33 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal 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 of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.26%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.