Primecap Management Co. CA Boosts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Primecap Management Co. CA increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,647,265 shares of the financial services provider’s stock after buying an additional 64,400 shares during the period. Primecap Management Co. CA’s holdings in JPMorgan Chase & Co. were worth $1,190,782,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Henrickson Nauta Wealth Advisors Inc. raised its stake in JPMorgan Chase & Co. by 1.3% during the 3rd 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 last quarter. Sunburst Financial Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.8% in the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after buying an additional 45 shares during the period. West Wealth Group LLC grew its position in JPMorgan Chase & Co. by 3.6% during the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after buying an additional 46 shares in the last quarter. Delta Financial Advisors LLC increased its stake in JPMorgan Chase & Co. by 0.3% during the third quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock valued at $3,272,000 after acquiring an additional 46 shares during the period. Finally, Instrumental Wealth LLC raised its holdings in JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 47 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent research reports. 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. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted 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 report on Friday, November 15th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Citigroup lifted their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Up 1.5 %

Shares of NYSE JPM opened at $248.55 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market cap of $699.75 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $152.71 and a 12-month high of $249.15. The firm’s 50-day simple moving average is $223.14 and its 200 day simple moving average is $212.01.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the prior year, the firm earned $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. 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%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 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.