Cerity Partners LLC Raises Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Cerity Partners LLC boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.0% in the third quarter, Holdings Channel reports. The institutional investor owned 1,715,050 shares of the financial services provider’s stock after acquiring an additional 210,338 shares during the period. JPMorgan Chase & Co. accounts for 0.8% of Cerity Partners LLC’s holdings, making the stock its 18th biggest position. Cerity Partners LLC’s holdings in JPMorgan Chase & Co. were worth $361,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of JPM. Accredited Investors Inc. grew its position in shares of JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after buying an additional 667 shares during the last quarter. Sunburst Financial Group LLC grew its holdings in JPMorgan Chase & Co. by 5.0% in the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 268 shares during the last quarter. Sageworth Trust Co increased its position in shares of JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 786 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after purchasing an additional 95,461 shares during the last quarter. Finally, Czech National Bank boosted its position in shares of JPMorgan Chase & Co. by 7.6% in the 2nd quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock worth $110,682,000 after purchasing an additional 38,548 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on JPM. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research note 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 stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $249.97 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 52 week low of $152.71 and a 52 week high of $254.31. The stock’s 50-day moving average price is $224.80 and its 200-day moving average price is $212.74. The stock has a market capitalization of $703.75 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating 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 business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the previous year, the business earned $4.33 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed 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. This represents a $5.00 annualized dividend and a yield of 2.00%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

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.