Riversedge Advisors LLC Acquires 206 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Riversedge Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,402 shares of the financial services provider’s stock after acquiring an additional 206 shares during the quarter. Riversedge Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $507,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of JPM. Retirement Group LLC raised its stake in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring 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 $32,000. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $34,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth $34,000. Finally, Davidson Capital Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $225.43 on Friday. The company has a 50 day moving average price of $214.03 and a 200 day moving average price of $204.50. The firm has a market capitalization of $647.36 billion, a P/E ratio of 12.57, a PEG ratio of 3.28 and a beta of 1.11. The company has a quick ratio of 0.91, a current 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 $225.92.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. 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%.

Analyst Ratings Changes

Several research analysts have issued reports on JPM shares. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Oppenheimer dropped their price objective on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Morgan Stanley lowered 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 report on Monday, September 30th. Citigroup lifted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Daiwa Capital Markets decreased their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Company 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.