Boston Research & Management Inc. lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 121.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,024 shares of the financial services provider’s stock after purchasing an additional 9,898 shares during the quarter. Boston Research & Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,735,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Laidlaw Wealth Management LLC raised its position in JPMorgan Chase & Co. by 20,306.8% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 2,810,830 shares of the financial services provider’s stock valued at $30,000 after buying an additional 2,797,056 shares during the last quarter. Provident Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $34,000. FAI Wealth Management grew its stake in shares of JPMorgan Chase & Co. by 317.0% during the 2nd quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 317 shares during the period. Marshall & Sullivan Inc. WA bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $43,000. Finally, Eukles Asset Management boosted its stake in JPMorgan Chase & Co. by 28.7% in the 3rd quarter. Eukles Asset Management now owns 533 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 119 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.
NYSE JPM opened at $114.57 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.16. The firm has a market cap of $349.23 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. JPMorgan Chase & Co. has a twelve month low of $76.91 and a twelve month high of $141.10. The business has a 50-day moving average price of $103.80 and a 200-day moving average price of $99.04.
JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Monday, October 19th. The financial services provider reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.69. The company had revenue of $29.90 billion for the quarter, compared to the consensus estimate of $28.20 billion. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 7.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Tuesday, October 6th were given a $0.90 dividend. The ex-dividend date was Monday, October 5th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.14%. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.
Several research firms have weighed in on JPM. Credit Suisse Group reaffirmed a “buy” rating and issued a $126.00 price target (up previously from $122.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, October 14th. Keefe, Bruyette & Woods cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and raised their price target for the company from $125.00 to $130.00 in a report on Wednesday. The Goldman Sachs Group raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a report on Friday, July 24th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $110.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, October 14th. Finally, BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $117.00 to $119.00 and gave the company a “market perform” rating in a report on Wednesday, October 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. JPMorgan Chase & Co. presently has a consensus rating of “Buy” and a consensus price target of $111.34.
In other news, CFO Jennifer Piepszak sold 3,297 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $101.11, for a total value of $333,359.67. Also, insider Nicole Giles sold 2,281 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $100.98, for a total value of $230,335.38. 0.78% of the stock is currently owned by insiders.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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