Merit Financial Group LLC Purchases 212 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Merit Financial Group LLC boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,975 shares of the financial services provider’s stock after buying an additional 212 shares during the quarter. Merit Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. CFM Wealth Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 14.2% in the third quarter. CFM Wealth Partners LLC now owns 16,841 shares of the financial services provider’s stock valued at $1,792,000 after acquiring an additional 2,099 shares in the last quarter. Westpac Banking Corp raised its position in shares of JPMorgan Chase & Co. by 39.8% in the third quarter. Westpac Banking Corp now owns 578,340 shares of the financial services provider’s stock worth $55,677,000 after buying an additional 164,796 shares in the last quarter. Paradigm Financial Partners LLC raised its position in shares of JPMorgan Chase & Co. by 13.7% in the third quarter. Paradigm Financial Partners LLC now owns 28,622 shares of the financial services provider’s stock worth $2,755,000 after buying an additional 3,443 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of JPMorgan Chase & Co. by 26.1% in the third quarter. Eqis Capital Management Inc. now owns 12,921 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 2,672 shares in the last quarter. Finally, TD Asset Management Inc. increased its stake in JPMorgan Chase & Co. by 9.7% in the third quarter. TD Asset Management Inc. now owns 4,247,516 shares of the financial services provider’s stock valued at $408,909,000 after acquiring an additional 376,306 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of JPM opened at $114.57 on Friday. The company has a market capitalization of $349.23 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. 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 50 day moving average of $103.80 and a 200 day moving average of $99.04. JPMorgan Chase & Co. has a twelve month low of $76.91 and a twelve month high of $141.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.69. The company had revenue of $29.90 billion during the quarter, compared to the consensus estimate of $28.20 billion. JPMorgan Chase & Co. had a net margin of 19.16% and a return on equity of 10.85%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.68 earnings per share. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 7.47 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Tuesday, October 6th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Monday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 34.35%.

In related news, CFO Jennifer Piepszak sold 3,297 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $101.11, for a total transaction of $333,359.67. Also, insider Nicole Giles sold 2,281 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $100.98, for a total transaction of $230,335.38. 0.78% of the stock is owned by company insiders.

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $125.00 to $130.00 in a research note on Wednesday. Morgan Stanley reiterated a “buy” rating and set a $106.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 27th. Credit Suisse Group reiterated a “buy” rating and set a $126.00 target price (up from $122.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, October 14th. BMO Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $117.00 to $119.00 and gave the stock a “market perform” rating in a report on Wednesday, October 14th. Finally, Independent Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $110.00 in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $111.34.

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.

See Also: Technical Analysis

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.