Plato Investment Management Ltd Has $11.90 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Plato Investment Management Ltd grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 56,484 shares of the financial services provider’s stock after acquiring an additional 325 shares during the period. JPMorgan Chase & Co. accounts for 1.0% of Plato Investment Management Ltd’s holdings, making the stock its 13th biggest position. Plato Investment Management Ltd’s holdings in JPMorgan Chase & Co. were worth $11,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. WFA Asset Management Corp lifted its holdings in shares of JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after buying an additional 412 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $1,185,000. Hoey Investments Inc. lifted its stake in JPMorgan Chase & Co. by 5.9% in the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock valued at $4,482,000 after acquiring an additional 1,247 shares during the last quarter. Berkshire Money Management Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $302,000. Finally, Barings LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth approximately $302,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $245.31 on Monday. The company’s fifty day moving average is $219.50 and its two-hundred day moving average is $210.17. JPMorgan Chase & Co. has a 52-week low of $150.09 and a 52-week high of $248.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $690.63 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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 firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.33 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on JPM shares. Robert W. Baird lowered shares of 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. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating 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 company from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Evercore ISI boosted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $227.13.

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.