CIBC Asset Management Inc Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

CIBC Asset Management Inc boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 6.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 498,375 shares of the financial services provider’s stock after purchasing an additional 29,470 shares during the period. CIBC Asset Management Inc’s holdings in JPMorgan Chase & Co. were worth $105,012,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Intellectus Partners LLC raised its position in shares of JPMorgan Chase & Co. by 2.6% in the 3rd quarter. Intellectus Partners LLC now owns 19,767 shares of the financial services provider’s stock valued at $4,168,000 after purchasing an additional 500 shares in the last quarter. Balboa Wealth Partners raised its holdings in JPMorgan Chase & Co. by 6.5% in the third quarter. Balboa Wealth Partners now owns 10,568 shares of the financial services provider’s stock valued at $2,228,000 after acquiring an additional 648 shares in the last quarter. Sycomore Asset Management bought a new position in JPMorgan Chase & Co. during the 3rd quarter valued at $3,497,000. Sargent Investment Group LLC grew its holdings in JPMorgan Chase & Co. by 11.0% during the 3rd quarter. Sargent Investment Group LLC now owns 23,408 shares of the financial services provider’s stock worth $4,936,000 after acquiring an additional 2,322 shares in the last quarter. Finally, Omnia Family Wealth LLC increased its position in shares of JPMorgan Chase & Co. by 6.4% in the 3rd quarter. Omnia Family Wealth LLC now owns 5,828 shares of the financial services provider’s stock worth $1,229,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $243.03 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $151.92 and a 12-month 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 firm has a market capitalization of $684.21 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10. The business has a 50 day simple moving average of $220.81 and a 200 day simple moving average of $210.92.

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 (EPS) 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 analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 dividend yield of 2.06%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analyst Ratings Changes

JPM has been the subject of a number of research reports. Daiwa Capital Markets decreased 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. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Barclays upped their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $229.31.

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.