JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Wallington Asset Management LLC

Wallington Asset Management LLC raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 42.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,983 shares of the financial services provider’s stock after acquiring an additional 1,489 shares during the period. Wallington Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,051,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Capital International Investors lifted its stake in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after acquiring an additional 778,297 shares during the period. Capital World Investors lifted its stake in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after purchasing an additional 150,812 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares during the period. Capital Research Global Investors lifted its stake in shares of JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of JPMorgan Chase & Co. by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider’s stock valued at $1,473,809,000 after purchasing an additional 157,577 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Oppenheimer reduced their price objective on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $222.28 on Friday. The company has a market cap of $638.31 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.92. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The company has a 50-day simple moving average of $215.23 and a 200-day simple moving average of $205.23.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly 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 20.32% and a return on equity of 17.26%. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the firm posted $4.33 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.25%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

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.