International Assets Investment Management LLC Purchases New Stake in JPMorgan Chase & Co. (NYSE:JPM)

International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,954,224 shares of the financial services provider’s stock, valued at approximately $1,888,088,000. International Assets Investment Management LLC owned about 0.31% of JPMorgan Chase & Co. as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at $800,130,000. Capital Research Global Investors increased its position in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Wulff Hansen & CO. increased its position in JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after purchasing an additional 2,787,510 shares during the period. Granite Bay Wealth Management LLC increased its position in JPMorgan Chase & Co. by 6,239.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after purchasing an additional 1,396,194 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Daiwa Capital Markets decreased their price target 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. Finally, Keefe, Bruyette & Woods increased their price target on shares of 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $222.31 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.92. The company has a market capitalization of $638.40 billion, a P/E ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11. The firm’s 50 day simple moving average is $215.39 and its two-hundred day simple moving average is $205.45.

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 for the quarter, beating 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 net margin of 20.32% and a return on equity of 17.26%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.33 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.25%. 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%.

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.