Chase Investment Counsel Corp Acquires New Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Chase Investment Counsel Corp bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, Holdings Channel.com reports. The institutional investor bought 1,006 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other hedge funds have also modified their holdings of the company. Community Bank & Trust Waco Texas increased its position in shares of JPMorgan Chase & Co. by 4.6% during the third quarter. Community Bank & Trust Waco Texas now owns 49,683 shares of the financial services provider’s stock worth $10,476,000 after purchasing an additional 2,198 shares in the last quarter. Empower Advisory Group LLC grew its stake in JPMorgan Chase & Co. by 0.5% during the 3rd quarter. Empower Advisory Group LLC now owns 1,012,422 shares of the financial services provider’s stock worth $213,479,000 after buying an additional 5,288 shares during the last quarter. Carrera Capital Advisors increased its position in JPMorgan Chase & Co. by 10.4% during the 3rd quarter. Carrera Capital Advisors now owns 4,297 shares of the financial services provider’s stock valued at $906,000 after buying an additional 406 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in JPMorgan Chase & Co. by 14.6% in the third quarter. Aptus Capital Advisors LLC now owns 236,760 shares of the financial services provider’s stock valued at $49,923,000 after buying an additional 30,082 shares during the last quarter. Finally, Commonwealth Retirement Investments LLC boosted its holdings in JPMorgan Chase & Co. by 0.9% in the third quarter. Commonwealth Retirement Investments LLC now owns 49,245 shares of the financial services provider’s stock worth $10,384,000 after acquiring an additional 430 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on JPM shares. Oppenheimer upped their price objective on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Evercore ISI lifted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $227.13.

JPMorgan Chase & Co. Trading Up 1.4 %

JPMorgan Chase & Co. stock opened at $245.31 on Monday. The firm has a market cap of $690.63 billion, a PE ratio of 13.65, a P/E/G ratio of 3.56 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $150.09 and a 12 month high of $248.00. The stock’s 50 day simple moving average is $219.50 and its two-hundred day simple moving average is $210.17. 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 announced its quarterly 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. The firm had revenue of $43.32 billion for 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 firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.33 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 17.62 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. Stockholders 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 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 dividend yield of 2.04%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 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.