Abacus Wealth Partners LLC Raises Stake in JPMorgan Chase & Co. (NYSE:JPM)

Abacus Wealth Partners LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,878 shares of the financial services provider’s stock after purchasing an additional 309 shares during the quarter. Abacus Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Retirement Group LLC increased its position in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JPM has been the topic of a number of analyst reports. BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $224.00 in a research report on Monday. Citigroup boosted their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Finally, Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.13.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $205.17 on Friday. The company has a market capitalization of $589.18 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48. The company’s fifty day moving average price is $211.32 and its 200 day moving average price is $202.90.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter last year, the firm earned $4.37 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 16.72 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.44%. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

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.