Prospera Financial Services Inc Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Prospera Financial Services Inc raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 153,395 shares of the financial services provider’s stock after purchasing an additional 10,172 shares during the quarter. JPMorgan Chase & Co. comprises about 0.8% of Prospera Financial Services Inc’s investment portfolio, making the stock its 17th biggest holding. Prospera Financial Services Inc’s holdings in JPMorgan Chase & Co. were worth $32,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of JPM. Smead Capital Management Inc. increased its holdings in shares of JPMorgan Chase & Co. by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 1,409,521 shares of the financial services provider’s stock worth $297,212,000 after buying an additional 47,541 shares during the last quarter. Chesapeake Wealth Management grew its position in JPMorgan Chase & Co. by 1.0% in the third quarter. Chesapeake Wealth Management now owns 10,786 shares of the financial services provider’s stock worth $2,274,000 after acquiring an additional 104 shares in the last quarter. Caprock Group LLC increased its stake in JPMorgan Chase & Co. by 1.2% during the third quarter. Caprock Group LLC now owns 76,866 shares of the financial services provider’s stock worth $16,208,000 after acquiring an additional 889 shares during the last quarter. Lindenwold Advisors INC raised its position in JPMorgan Chase & Co. by 0.7% during the third quarter. Lindenwold Advisors INC now owns 12,160 shares of the financial services provider’s stock valued at $2,564,000 after purchasing an additional 82 shares during the period. Finally, Baron Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 4.9% in the 3rd quarter. Baron Wealth Management LLC now owns 5,110 shares of the financial services provider’s stock valued at $1,077,000 after purchasing an additional 239 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.6 %

NYSE JPM opened at $248.56 on Friday. JPMorgan Chase & Co. has a one year low of $152.71 and a one year high of $249.15. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $699.78 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 3.53 and a beta of 1.10. The company’s 50-day simple moving average is $223.14 and its two-hundred day simple moving average is $211.76.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 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 firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the company posted $4.33 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.01%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Analysts Set New Price Targets

Several analysts recently weighed in on JPM shares. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a report on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada raised their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $229.31.

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.