Summit Asset Management LLC Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Summit Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,958 shares of the financial services provider’s stock after acquiring an additional 1,200 shares during the period. Summit Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,889,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $1,888,088,000. Swedbank AB purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at $800,130,000. Capital Research Global Investors grew its position 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 valued at $3,445,185,000 after buying an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. grew its position in JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after buying an additional 2,787,510 shares during the last quarter. Finally, Granite Bay Wealth Management LLC grew its position in JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after buying an additional 1,396,194 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore ISI lifted 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 report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Royal Bank of Canada raised their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $227.13.

JPMorgan Chase & Co. Trading Down 0.1 %

NYSE:JPM opened at $245.18 on Tuesday. The company has a market capitalization of $690.27 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10. The stock has a fifty day simple moving average of $220.06 and a 200-day simple moving average of $210.55. JPMorgan Chase & Co. has a 52-week low of $151.92 and a 52-week high of $248.00. 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. (NYSE:JPM) last posted its quarterly earnings data 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. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.33 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share 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. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 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.