Greystone Financial Group LLC Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Greystone Financial Group LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 59,039 shares of the financial services provider’s stock after purchasing an additional 975 shares during the period. JPMorgan Chase & Co. comprises about 2.2% of Greystone Financial Group LLC’s investment portfolio, making the stock its 14th biggest position. Greystone Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $12,449,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Capital International Investors boosted its stake in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after purchasing an additional 778,297 shares during the period. Capital World Investors raised its holdings in JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after buying an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in JPMorgan Chase & Co. by 4.8% during the 2nd 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 buying an additional 1,040,594 shares during the period. Capital Research Global Investors grew its holdings in JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in JPMorgan Chase & Co. in the 3rd quarter worth $1,888,088,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JPM has been the subject of a number of analyst reports. Jefferies Financial Group increased their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Royal Bank of Canada boosted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Daiwa Capital Markets decreased their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $222.31 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.92. The firm’s 50-day simple moving average is $215.39 and its two-hundred day simple moving average is $205.45. The stock has a market cap of $638.40 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

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.