JPMorgan Chase & Co. (NYSE:JPM) Shares Acquired by 49 Wealth Management LLC

49 Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 38.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,598 shares of the financial services provider’s stock after purchasing an additional 1,272 shares during the period. 49 Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $970,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of JPMorgan Chase & Co. by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after acquiring an additional 1,040,594 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in JPMorgan Chase & Co. during the third quarter worth about $1,888,088,000. Envestnet Asset Management Inc. raised its stake in JPMorgan Chase & Co. by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider’s stock worth $1,473,809,000 after purchasing an additional 157,577 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in JPMorgan Chase & Co. by 3.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,017,646 shares of the financial services provider’s stock worth $1,479,741,000 after purchasing an additional 261,363 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after purchasing an additional 182,648 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Citigroup raised their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Stock Up 0.7 %

JPMorgan Chase & Co. stock opened at $250.29 on Tuesday. The firm has a market capitalization of $704.65 billion, a P/E ratio of 13.93, a P/E/G ratio of 3.61 and a beta of 1.10. The stock’s fifty day simple moving average is $223.99 and its 200-day simple moving average is $212.38. JPMorgan Chase & Co. has a twelve month low of $152.71 and a twelve month high of $254.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter last year, the company earned $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities 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. Shareholders of record on Friday, October 4th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.