King Wealth Management Group Has $16.34 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

King Wealth Management Group decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,474 shares of the financial services provider’s stock after selling 1,110 shares during the quarter. JPMorgan Chase & Co. makes up 2.5% of King Wealth Management Group’s holdings, making the stock its 12th biggest position. King Wealth Management Group’s holdings in JPMorgan Chase & Co. were worth $16,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Accredited Investors Inc. grew its holdings in JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after buying an additional 667 shares in the last quarter. Sunburst Financial Group LLC increased its position in JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 268 shares during the period. Sageworth Trust Co raised its stake in JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 786 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in JPMorgan Chase & Co. by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after purchasing an additional 95,461 shares during the period. Finally, Czech National Bank grew its position in shares of JPMorgan Chase & Co. by 7.6% during the 2nd quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock worth $110,682,000 after purchasing an additional 38,548 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JPM shares. Daiwa Capital Markets cut their price target on 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. Citigroup increased their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday. Evercore ISI boosted their price target 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. Oppenheimer raised their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $243.03 on Wednesday. The stock has a 50-day moving average price of $220.81 and a two-hundred day moving average price of $210.92. JPMorgan Chase & Co. has a 12 month low of $151.92 and a 12 month high of $248.00. The company has a market capitalization of $684.21 billion, a PE ratio of 13.52, a P/E/G ratio of 3.56 and a beta of 1.10. 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 issued its quarterly earnings data 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 net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter last year, the business earned $4.33 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 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.