JFG Wealth Management LLC Takes $321,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

JFG Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 3rd quarter, Holdings Channel.com reports. The firm bought 1,521 shares of the financial services provider’s stock, valued at approximately $321,000.

A number of other hedge funds have also recently added to or reduced their stakes in JPM. Henrickson Nauta Wealth Advisors Inc. raised its position in shares of JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC grew its holdings in JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after acquiring an additional 45 shares in the last quarter. West Wealth Group LLC raised 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 lifted its position in shares of JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 47 shares during the last quarter. Finally, Prossimo Advisors LLC grew its stake in JPMorgan Chase & Co. by 0.5% in the third quarter. Prossimo Advisors LLC now owns 8,740 shares of the financial services provider’s stock worth $1,843,000 after purchasing an additional 47 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 0.3 %

JPMorgan Chase & Co. stock opened at $237.06 on Friday. JPMorgan Chase & Co. has a 52 week low of $143.70 and a 52 week high of $248.00. The stock has a market cap of $667.40 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 3.21 and a beta of 1.10. The company’s 50-day moving average price is $217.24 and its two-hundred day moving average price is $208.24. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the company earned $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. On average, analysts expect that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of research analyst reports. Piper Sandler increased their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a report on Thursday. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday. Finally, Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $224.31.

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.