Optas LLC Raises Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Optas LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 35.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,971 shares of the financial services provider’s stock after acquiring an additional 4,167 shares during the quarter. JPMorgan Chase & Co. comprises 0.8% of Optas LLC’s investment portfolio, making the stock its 26th largest holding. Optas LLC’s holdings in JPMorgan Chase & Co. were worth $3,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Henrickson Nauta Wealth Advisors Inc. boosted its stake in JPMorgan Chase & Co. by 1.3% in the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after buying an additional 45 shares in the last quarter. Sunburst Financial Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 45 shares in the last quarter. West Wealth Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 3.6% in the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 46 shares in the last quarter. Instrumental Wealth LLC grew its holdings in shares of JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 47 shares during the last quarter. Finally, Gemmer Asset Management LLC raised its position in JPMorgan Chase & Co. by 1.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 48 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JPM. Daiwa Capital Markets reduced their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Oppenheimer raised their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.38.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $221.58 on Wednesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $142.79 and a 1 year high of $226.75. The company has a market cap of $623.82 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 3.25 and a beta of 1.10. The stock’s fifty day moving average price is $216.19 and its 200-day moving average price is $207.43.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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 return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period last year, the firm posted $4.33 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

JPMorgan Chase & Co. 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.