Meridian Management Co. Grows Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Meridian Management Co. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,531 shares of the financial services provider’s stock after purchasing an additional 79 shares during the period. Meridian Management Co.’s holdings in JPMorgan Chase & Co. were worth $955,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares during the last quarter. Sunburst Financial Group LLC increased its position in 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 worth $1,201,000 after buying an additional 45 shares during the period. West Wealth Group LLC lifted its stake in JPMorgan Chase & Co. by 3.6% in the third quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after buying an additional 46 shares during the last quarter. Delta Financial Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.3% in the third quarter. Delta Financial Advisors LLC now owns 15,519 shares of the financial services provider’s stock valued at $3,272,000 after acquiring an additional 46 shares during the period. Finally, Instrumental Wealth LLC grew its position in shares of JPMorgan Chase & Co. by 4.5% during the second 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 last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Robert W. Baird cut shares of 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. Oppenheimer raised their price target on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays upped their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $227.13.

JPMorgan Chase & Co. Trading Up 1.4 %

Shares of JPMorgan Chase & Co. stock opened at $245.31 on Friday. JPMorgan Chase & Co. has a 1 year low of $150.09 and a 1 year high of $248.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50 day moving average price of $219.50 and a 200 day moving average price of $209.92. The company has a market capitalization of $690.63 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.50 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter last year, the business posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS 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. Investors of record on Friday, October 4th were paid a $1.25 dividend. 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. This represents a $5.00 annualized dividend and a yield of 2.04%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

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.