JPMorgan Chase & Co. (NYSE:JPM) Position Raised by Cullen Investment Group LTD.

Cullen Investment Group LTD. increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,186 shares of the financial services provider’s stock after buying an additional 319 shares during the period. JPMorgan Chase & Co. accounts for approximately 3.2% of Cullen Investment Group LTD.’s portfolio, making the stock its 6th largest holding. Cullen Investment Group LTD.’s holdings in JPMorgan Chase & Co. were worth $21,336,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. Swedbank AB bought a new position in JPMorgan Chase & Co. in the first quarter valued at $800,130,000. Capital Research Global Investors increased its stake in JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after acquiring an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. increased its stake in JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after acquiring an additional 2,787,510 shares during the last quarter. Granite Bay Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after buying an additional 1,396,194 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of JPMorgan Chase & Co. by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after buying an additional 1,040,594 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded up $7.20 during trading hours on Friday, reaching $211.22. The company had a trading volume of 10,213,415 shares, compared to its average volume of 9,148,031. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The firm has a market cap of $606.55 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.39 and a beta of 1.11. The firm’s 50 day moving average price is $211.30 and its 200-day moving average price is $203.03.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the previous year, the firm posted $4.37 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 16.72 EPS 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. Stockholders of record on Friday, October 4th will be given 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 of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JPM. Oppenheimer raised their price objective on JPMorgan Chase & Co. from $221.00 to $234.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group raised their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $212.13.

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.