Cypress Capital Group Boosts Position in JPMorgan Chase & Co. (NYSE:JPM)

Cypress Capital Group raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,764 shares of the financial services provider’s stock after purchasing an additional 486 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.7% of Cypress Capital Group’s holdings, making the stock its 11th biggest position. Cypress Capital Group’s holdings in JPMorgan Chase & Co. were worth $14,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JPM. WFA Asset Management Corp lifted its position in JPMorgan Chase & Co. by 51.2% during the first quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $1,185,000. Elkhorn Partners Limited Partnership purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $601,000. 1832 Asset Management L.P. grew its stake in shares of JPMorgan Chase & Co. by 5.5% during the 1st quarter. 1832 Asset Management L.P. now owns 3,523,898 shares of the financial services provider’s stock valued at $705,837,000 after acquiring an additional 185,290 shares during the period. Finally, LRI Investments LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $2,012,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $248.55 on Monday. The firm has a market capitalization of $699.75 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 3.55 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. The business has a 50 day simple moving average of $223.14 and a 200-day simple moving average of $212.01. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $249.15.

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, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period last year, the company earned $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.01%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on JPM shares. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. 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 report on Thursday, November 7th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Company 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.