Connective Portfolio Management LLC Raises Stake in JPMorgan Chase & Co. (NYSE:JPM)

Connective Portfolio Management LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,080 shares of the financial services provider’s stock after buying an additional 1,000 shares during the quarter. JPMorgan Chase & Co. makes up about 2.3% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 9th largest holding. Connective Portfolio Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Icon Wealth Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $1,936,000. Hancock Whitney Corp raised its position in shares of JPMorgan Chase & Co. by 34.4% in the 4th quarter. Hancock Whitney Corp now owns 242,217 shares of the financial services provider’s stock worth $41,201,000 after acquiring an additional 62,043 shares in the last quarter. Ethic Inc. lifted its position in shares of JPMorgan Chase & Co. by 19.3% during the fourth quarter. Ethic Inc. now owns 32,192 shares of the financial services provider’s stock valued at $5,476,000 after buying an additional 5,208 shares during the last quarter. Jacobi Capital Management LLC lifted its position in JPMorgan Chase & Co. by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 47,681 shares of the financial services provider’s stock valued at $8,110,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Putnam Investments LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.0% during the 4th quarter. Putnam Investments LLC now owns 3,638,999 shares of the financial services provider’s stock valued at $618,994,000 after purchasing an additional 69,723 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on JPM. BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Citigroup raised their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Oppenheimer upped their price objective on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upped their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $212.13.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of NYSE:JPM traded up $0.70 during midday trading on Wednesday, hitting $211.45. 850,871 shares of the stock were exchanged, compared to its average volume of 9,075,937. The company has a market capitalization of $607.21 billion, a PE ratio of 11.75, a P/E/G ratio of 2.39 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The business’s fifty day simple moving average is $211.21 and its two-hundred day simple moving average is $203.32.

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 the consensus estimate 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 firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same period in the prior year, the business posted $4.37 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

About JPMorgan Chase & Co.

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.