Creative Planning Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Creative Planning grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,139,115 shares of the financial services provider’s stock after purchasing an additional 34,746 shares during the period. Creative Planning’s holdings in JPMorgan Chase & Co. were worth $240,194,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Retirement Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth $34,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $225.43 on Friday. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.92. 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 firm’s 50 day moving average price is $214.03 and its 200-day moving average price is $204.50. The firm has a market cap of $647.36 billion, a P/E ratio of 12.57, a P/E/G ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the company posted $4.33 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Jefferies Financial Group boosted their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Oppenheimer lowered their target price on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Finally, Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $220.00 to $225.00 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 eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $217.94.

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.