Altus Wealth Group LLC Increases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Altus Wealth Group LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,695 shares of the financial services provider’s stock after purchasing an additional 668 shares during the period. Altus Wealth Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of JPM. CFM Wealth Partners LLC grew its stake in JPMorgan Chase & Co. by 2.8% during the 1st quarter. CFM Wealth Partners LLC now owns 28,179 shares of the financial services provider’s stock worth $5,644,000 after buying an additional 779 shares during the last quarter. Chemistry Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.1% in the first quarter. Chemistry Wealth Management LLC now owns 39,084 shares of the financial services provider’s stock valued at $7,828,000 after buying an additional 1,910 shares in the last quarter. Davis Investment Partners LLC raised its holdings in JPMorgan Chase & Co. by 1.3% during the first quarter. Davis Investment Partners LLC now owns 6,187 shares of the financial services provider’s stock worth $1,210,000 after purchasing an additional 81 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in JPMorgan Chase & Co. by 1.2% during the first quarter. Sunbelt Securities Inc. now owns 28,529 shares of the financial services provider’s stock worth $5,714,000 after purchasing an additional 332 shares during the last quarter. Finally, RMR Wealth Builders raised its holdings in JPMorgan Chase & Co. by 5.3% during the first quarter. RMR Wealth Builders now owns 30,382 shares of the financial services provider’s stock worth $6,086,000 after purchasing an additional 1,526 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.2 %

NYSE:JPM opened at $222.28 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $215.23 and its two-hundred day moving average is $205.23. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.92. The company has a market cap of $638.31 billion, a PE ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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. The business 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 17.26% and a net margin of 20.32%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $4.33 EPS. On average, analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JPM. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Jefferies Financial Group upped their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Finally, Citigroup increased their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Company 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.