49 Wealth Management LLC Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

49 Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 38.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,598 shares of the financial services provider’s stock after purchasing an additional 1,272 shares during the period. 49 Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $970,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Henrickson Nauta Wealth Advisors Inc. raised its holdings in shares of JPMorgan Chase & Co. by 1.3% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after buying an additional 45 shares during the last quarter. Sunburst Financial Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.8% during 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 last quarter. West Wealth Group LLC increased its position in shares of JPMorgan Chase & Co. by 3.6% in the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 46 shares during the period. Delta Financial Advisors LLC raised its stake in JPMorgan Chase & Co. by 0.3% in the 3rd quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock worth $3,272,000 after acquiring an additional 46 shares during the last quarter. Finally, Instrumental Wealth LLC lifted its position in JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 47 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $250.29 on Tuesday. The stock has a market capitalization of $704.65 billion, a P/E ratio of 13.93, a P/E/G ratio of 3.61 and a beta of 1.10. The company’s fifty day moving average price is $223.99 and its 200 day moving average price is $212.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $41.43 billion. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.33 earnings per share. As a group, equities research analysts anticipate 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. 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 dividend yield of 2.00%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a report on Thursday, November 7th. Citigroup raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Finally, Barclays upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $229.31.

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.