Able Wealth Management LLC Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Able Wealth Management LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 29.3% in the 3rd quarter, Holdings Channel reports. The firm owned 1,327 shares of the financial services provider’s stock after buying an additional 301 shares during the quarter. Able Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WFA Asset Management Corp boosted its holdings in shares of JPMorgan Chase & Co. by 51.2% in the first quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 412 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $1,185,000. Hoey Investments Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 5.9% in the 1st quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock worth $4,482,000 after buying an additional 1,247 shares during the period. Advisors Capital Management LLC grew its position in shares of JPMorgan Chase & Co. by 8.8% during the 1st quarter. Advisors Capital Management LLC now owns 435,744 shares of the financial services provider’s stock worth $87,280,000 after buying an additional 35,403 shares in the last quarter. Finally, Flossbach Von Storch AG purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $323,000. 71.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

JPM has been the topic of several recent research reports. Morgan Stanley cut shares of 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. 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 report on Monday, October 14th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Oppenheimer upped their price objective on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $224.31.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $239.58 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $674.50 billion, a P/E ratio of 13.33, a P/E/G ratio of 3.46 and a beta of 1.10. The business’s 50 day moving average is $217.53 and its two-hundred day moving average is $208.78. JPMorgan Chase & Co. has a 12-month low of $145.16 and a 12-month high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the firm earned $4.33 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed 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 2.09%. This is a boost 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 presently 27.82%.

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.