JPMorgan Chase & Co. (NYSE:JPM) Stock Holdings Increased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 478,369 shares of the financial services provider’s stock after purchasing an additional 21,355 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.6% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 5th largest position. Pinnacle Associates Ltd.’s holdings in JPMorgan Chase & Co. were worth $100,869,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Retirement Group LLC increased its position in shares of 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 purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at $32,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at $34,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $37,000. Finally, Davidson Capital Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of 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. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada upped their price target 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. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $222.81.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $222.94 on Friday. The stock’s 50-day moving average is $216.15 and its 200 day moving average is $206.72. JPMorgan Chase & Co. has a 1-year low of $139.23 and a 1-year high of $226.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.91. The company has a market cap of $627.65 billion, a P/E ratio of 12.41, a PEG ratio of 3.28 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business posted $4.33 EPS. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. Research analysts predict that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

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.