E&G Advisors LP Raises Holdings in JPMorgan Chase & Co. (NYSE:JPM)

E&G Advisors LP grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,438 shares of the financial services provider’s stock after acquiring an additional 100 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.9% of E&G Advisors LP’s holdings, making the stock its 9th largest position. E&G Advisors LP’s holdings in JPMorgan Chase & Co. were worth $6,832,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Retirement Group LLC raised its position 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 worth $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $32,000. Richardson Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $34,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on JPM shares. Barclays upped their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Jefferies Financial Group increased their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada raised their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $225.37 on Monday. 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 1-year low of $135.19 and a 1-year high of $225.92. The stock has a market capitalization of $647.19 billion, a P/E ratio of 12.57, a P/E/G ratio of 3.28 and a beta of 1.11. The business has a 50-day moving average price of $214.03 and a two-hundred day moving average price of $204.58.

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 for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. 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 firm posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.