IFG Advisors LLC Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

IFG Advisors LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,074 shares of the financial services provider’s stock after purchasing an additional 266 shares during the period. IFG Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,702,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Retirement Group LLC grew its holdings in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $32,000. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $34,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $225.37 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $214.03 and its 200 day simple moving average is $204.58. The firm has a market cap 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 1 year low of $135.19 and a 1 year high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter last year, the business earned $4.33 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. As a group, analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JPM. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Jefferies Financial Group boosted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Royal Bank of Canada boosted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.