E&G Advisors LP Grows Holdings in JPMorgan Chase & Co. (NYSE:JPM)

E&G Advisors LP raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,438 shares of the financial services provider’s stock after purchasing an additional 100 shares during the period. JPMorgan Chase & Co. makes up about 1.9% of E&G Advisors LP’s investment portfolio, making the stock its 9th biggest holding. E&G Advisors LP’s holdings in JPMorgan Chase & Co. were worth $6,832,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of JPM. RFG Advisory LLC grew its position in shares of JPMorgan Chase & Co. by 0.3% in the 1st quarter. RFG Advisory LLC now owns 29,401 shares of the financial services provider’s stock valued at $5,889,000 after purchasing an additional 85 shares during the period. First Affirmative Financial Network lifted its stake in JPMorgan Chase & Co. by 3.9% in the first quarter. First Affirmative Financial Network now owns 2,694 shares of the financial services provider’s stock valued at $540,000 after buying an additional 100 shares in the last quarter. Meyer Handelman Co. boosted its holdings in shares of JPMorgan Chase & Co. by 8.6% in the first quarter. Meyer Handelman Co. now owns 283,626 shares of the financial services provider’s stock valued at $56,810,000 after buying an additional 22,518 shares during the period. Gulf International Bank UK Ltd increased its position in shares of JPMorgan Chase & Co. by 1.7% during the first quarter. Gulf International Bank UK Ltd now owns 246,585 shares of the financial services provider’s stock worth $49,390,000 after acquiring an additional 4,033 shares in the last quarter. Finally, O Connor Financial Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $209,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on JPM. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Daiwa Capital Markets lowered their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, BMO Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.94.

JPMorgan Chase & Co. Stock Performance

JPM opened at $225.37 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.92. The business has a 50 day moving average of $214.03 and a 200-day moving average of $204.58. The stock has a market cap of $647.19 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate 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 17.26% and a net margin of 20.32%. The firm’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 earned $4.33 earnings per share. On average, equities research analysts expect that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

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.