1,593 Shares in JPMorgan Chase & Co. (NYSE:JPM) Purchased by New Perspectives Inc

New Perspectives Inc purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,593 shares of the financial services provider’s stock, valued at approximately $336,000. JPMorgan Chase & Co. accounts for 0.2% of New Perspectives Inc’s holdings, making the stock its 22nd biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of JPM. Retirement Group LLC boosted its holdings in JPMorgan Chase & Co. by 227.1% in 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 during the last quarter. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $32,000. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $225.37 on Monday. The stock has a market capitalization of $647.19 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.92. The company’s 50-day simple moving average is $214.03 and its 200-day simple moving average is $204.58. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results 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. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.33 EPS. Equities analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This is a positive change 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 annualized dividend and a yield of 2.22%. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research reports. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Daiwa Capital Markets reduced their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.94.

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.