Allspring Global Investments Holdings LLC Grows Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Allspring Global Investments Holdings LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 805,720 shares of the financial services provider’s stock after purchasing an additional 24,129 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in JPMorgan Chase & Co. were worth $169,894,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JPM. Vest Financial LLC lifted its position in shares of JPMorgan Chase & Co. by 20.8% in the third quarter. Vest Financial LLC now owns 139,689 shares of the financial services provider’s stock valued at $29,455,000 after acquiring an additional 24,085 shares in the last quarter. Eagle Capital Management LLC raised its stake in JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Eagle Capital Management LLC now owns 21,936 shares of the financial services provider’s stock valued at $4,625,000 after purchasing an additional 69 shares during the period. Lee Johnson Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $3,989,000. West Branch Capital LLC boosted its stake in JPMorgan Chase & Co. by 1.2% in the 3rd quarter. West Branch Capital LLC now owns 32,286 shares of the financial services provider’s stock worth $6,808,000 after purchasing an additional 383 shares during the period. Finally, Werba Rubin Papier Wealth Management grew its holdings in JPMorgan Chase & Co. by 8.6% during the 3rd quarter. Werba Rubin Papier Wealth Management now owns 4,763 shares of the financial services provider’s stock valued at $1,004,000 after buying an additional 376 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $223.23 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $214.37 and a 200-day moving average price of $204.77. The firm has a market capitalization of $641.04 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.33 earnings per share. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.89%.

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.