Norris Perne & French LLP MI Raises Stake in JPMorgan Chase & Co. (NYSE:JPM)

Norris Perne & French LLP MI grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 17.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,026 shares of the financial services provider’s stock after purchasing an additional 1,979 shares during the quarter. Norris Perne & French LLP MI’s holdings in JPMorgan Chase & Co. were worth $2,747,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of JPM. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the third quarter worth about $1,888,088,000. Swedbank AB purchased a new position in JPMorgan Chase & Co. in the first quarter worth about $800,130,000. Capital Research Global Investors raised its holdings in JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. raised its holdings in JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after buying an additional 2,787,510 shares during the last quarter. Finally, Granite Bay Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 6,239.1% in the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after buying an additional 1,396,194 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on JPM shares. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Oppenheimer reduced their price target on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $222.81.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $219.78 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 1-year low of $142.79 and a 1-year high of $226.75. The company has a market capitalization of $618.76 billion, a P/E ratio of 12.23, a P/E/G ratio of 3.24 and a beta of 1.10. The firm’s 50 day simple moving average is $216.17 and its two-hundred day simple moving average is $207.18.

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 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 for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the previous year, the firm earned $4.33 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.28%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

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.