Rakuten Securities Inc. Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Rakuten Securities Inc. grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 99.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 726 shares of the financial services provider’s stock after purchasing an additional 362 shares during the quarter. Rakuten Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $153,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp grew its stake in shares of JPMorgan Chase & Co. by 51.2% in the first quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 412 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $1,185,000. Hoey Investments Inc. raised its stake in JPMorgan Chase & Co. by 5.9% during the 1st quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock valued at $4,482,000 after buying an additional 1,247 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 5.5% during the 1st quarter. QRG Capital Management Inc. now owns 435,455 shares of the financial services provider’s stock valued at $87,222,000 after buying an additional 22,783 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of JPMorgan Chase & Co. by 4.7% in the first quarter. Russell Investments Group Ltd. now owns 1,861,761 shares of the financial services provider’s stock worth $372,810,000 after acquiring an additional 84,173 shares during the period. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JPM. Evercore ISI increased their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” 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 report on Friday. Finally, Royal Bank of Canada boosted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $227.13.

JPMorgan Chase & Co. Stock Up 1.4 %

Shares of JPM stock opened at $245.31 on Friday. The company’s fifty day simple moving average is $219.50 and its two-hundred day simple moving average is $209.92. JPMorgan Chase & Co. has a 52 week low of $150.09 and a 52 week high of $248.00. The stock has a market cap of $690.63 billion, a P/E ratio of 13.65, a PEG ratio of 3.50 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $4.33 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.