Cypress Capital Group Buys 486 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cypress Capital Group boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,764 shares of the financial services provider’s stock after purchasing an additional 486 shares during the quarter. JPMorgan Chase & Co. comprises 1.7% of Cypress Capital Group’s holdings, making the stock its 11th largest holding. Cypress Capital Group’s holdings in JPMorgan Chase & Co. were worth $14,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. WFA Asset Management Corp raised its stake in shares of JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the first quarter worth $1,185,000. Elkhorn Partners Limited Partnership purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at about $601,000. 1832 Asset Management L.P. boosted its holdings in JPMorgan Chase & Co. by 5.5% in the first quarter. 1832 Asset Management L.P. now owns 3,523,898 shares of the financial services provider’s stock worth $705,837,000 after acquiring an additional 185,290 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $2,012,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JPM. Daiwa Capital Markets lowered their target price on shares of 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada increased their price objective 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, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $248.55 on Monday. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $249.15. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $699.75 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10. The company’s fifty day moving average price is $223.14 and its 200 day moving average price is $212.01.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.33 earnings per share. On average, research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.01%. The ex-dividend date was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 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.