PFG Investments LLC Buys 733 Shares of JPMorgan Chase & Co. (NYSE:JPM)

PFG Investments LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,111 shares of the financial services provider’s stock after purchasing an additional 733 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.0% of PFG Investments LLC’s investment portfolio, making the stock its 13th largest position. PFG Investments LLC’s holdings in JPMorgan Chase & Co. were worth $14,784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Independence Bank of Kentucky grew its stake in JPMorgan Chase & Co. by 25.2% during the first quarter. Independence Bank of Kentucky now owns 45,017 shares of the financial services provider’s stock worth $9,017,000 after purchasing an additional 9,054 shares during the period. Avity Investment Management Inc. increased its stake in shares of JPMorgan Chase & Co. by 1.0% in the 1st quarter. Avity Investment Management Inc. now owns 115,968 shares of the financial services provider’s stock valued at $23,228,000 after acquiring an additional 1,093 shares in the last quarter. Occidental Asset Management LLC lifted its position in shares of JPMorgan Chase & Co. by 28.8% during the 1st quarter. Occidental Asset Management LLC now owns 23,778 shares of the financial services provider’s stock valued at $4,763,000 after acquiring an additional 5,318 shares during the period. Viewpoint Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 4.8% during the first quarter. Viewpoint Capital Management LLC now owns 6,804 shares of the financial services provider’s stock worth $1,363,000 after acquiring an additional 312 shares in the last quarter. Finally, Trifecta Capital Advisors LLC boosted its stake in JPMorgan Chase & Co. by 2.1% during the first quarter. Trifecta Capital Advisors LLC now owns 22,636 shares of the financial services provider’s stock worth $4,534,000 after acquiring an additional 472 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.2 %

JPM stock opened at $222.90 on Wednesday. The stock has a market cap of $640.09 billion, a P/E ratio of 12.43, a P/E/G ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $215.76 and its two-hundred day simple moving average is $206.02. JPMorgan Chase & Co. has a 1-year low of $136.04 and a 1-year high of $226.75.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share 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 company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the firm earned $4.33 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JPM. Barclays upped their price objective 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. Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Royal Bank of Canada upped their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. 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 research report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Company 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.