TCTC Holdings LLC Purchases 3,315 Shares of JPMorgan Chase & Co. (NYSE:JPM)

TCTC Holdings LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 388,530 shares of the financial services provider’s stock after acquiring an additional 3,315 shares during the period. JPMorgan Chase & Co. accounts for about 2.8% of TCTC Holdings LLC’s holdings, making the stock its 6th biggest position. TCTC Holdings LLC’s holdings in JPMorgan Chase & Co. were worth $81,925,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $1,888,088,000. Swedbank AB purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $800,130,000. Capital Research Global Investors increased its position in JPMorgan Chase & Co. by 23.3% during 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 purchasing an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. raised its stake in JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after purchasing an additional 2,787,510 shares during the period. Finally, Granite Bay Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 6,239.1% in 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 purchasing an additional 1,396,194 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of a number of research analyst reports. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Oppenheimer upped their price target on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Daiwa Capital Markets dropped their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $224.31.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $241.24 on Thursday. 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. has a fifty-two week low of $146.52 and a fifty-two week high of $248.00. The business has a 50 day moving average price of $217.92 and a two-hundred day moving average price of $209.11. The firm has a market cap of $679.17 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10.

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

JPMorgan Chase & Co. Increases Dividend

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