Objective Capital Management LLC Buys New Position in JPMorgan Chase & Co. (NYSE:JPM)

Objective Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 3rd quarter, HoldingsChannel reports. The firm purchased 7,698 shares of the financial services provider’s stock, valued at approximately $1,623,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $1,888,088,000. Swedbank AB bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $800,130,000. Capital Research Global Investors grew its position in shares of JPMorgan Chase & Co. by 23.3% during the 1st 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 period. Wulff Hansen & CO. increased its stake in shares of JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after acquiring an additional 2,787,510 shares in the last quarter. Finally, Granite Bay Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 6,239.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after acquiring an additional 1,396,194 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Daiwa Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Barclays upped their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $224.31.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $241.24 on Thursday. JPMorgan Chase & Co. has a 52 week low of $146.52 and a 52 week high of $248.00. The company’s 50 day moving average price is $217.92 and its two-hundred day moving average price is $209.11. The stock has a market cap of $679.17 billion, a P/E ratio of 13.42, a P/E/G ratio of 3.48 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $4.33 earnings per share. On average, equities analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.07%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. 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.