Jennison Associates LLC Increases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Jennison Associates LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,567,395 shares of the financial services provider’s stock after acquiring an additional 196,583 shares during the period. Jennison Associates LLC owned approximately 0.06% of JPMorgan Chase & Co. worth $330,501,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $27,000. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter worth approximately $32,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at $37,000. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JPM. Daiwa Capital Markets decreased their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $248.55 on Friday. JPMorgan Chase & Co. has a 12-month low of $152.71 and a 12-month high of $249.15. The business’s fifty day simple moving average is $223.14 and its 200-day simple moving average is $211.90. 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 cap of $699.75 billion, a PE ratio of 13.83, a PEG ratio of 3.55 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm 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 19.64% and a return on equity of 16.71%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.33 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share 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. Stockholders of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.01%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

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.