Grimes & Company Inc. Has $18.88 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Grimes & Company Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,559 shares of the financial services provider’s stock after selling 2,266 shares during the period. Grimes & Company Inc.’s holdings in JPMorgan Chase & Co. were worth $18,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BCGM Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 2.8% in the 1st quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock valued at $3,818,000 after buying an additional 516 shares during the period. Accredited Investors Inc. lifted its stake in JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after purchasing an additional 667 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of JPMorgan Chase & Co. by 1.4% in the 1st quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock valued at $17,439,000 after purchasing an additional 1,173 shares during the last quarter. Sunburst Financial Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 5.0% during the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after buying an additional 268 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 6.6% in the first quarter. Daiwa Securities Group Inc. now owns 370,120 shares of the financial services provider’s stock worth $74,135,000 after acquiring an additional 22,923 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Royal Bank of Canada boosted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Barclays lifted their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $222.31 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a fifty day simple moving average of $215.39 and a two-hundred day simple moving average of $205.45. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.92. The firm has a market capitalization of $638.40 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.33 EPS. Analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

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.