JPMorgan Chase & Co. (NYSE:JPM) Shares Acquired by Payden & Rygel

Payden & Rygel lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 184,050 shares of the financial services provider’s stock after acquiring an additional 600 shares during the quarter. JPMorgan Chase & Co. accounts for 3.0% of Payden & Rygel’s investment portfolio, making the stock its 3rd largest position. Payden & Rygel’s holdings in JPMorgan Chase & Co. were worth $38,809,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in JPM. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $27,000. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on JPM shares. Barclays upped their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $229.31.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $248.55 on Monday. The company has a fifty day moving average of $223.14 and a two-hundred day moving average of $212.01. The company has a market capitalization of $699.75 billion, a PE ratio of 13.83, a P/E/G ratio of 3.55 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $249.15. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.33 EPS. As a group, analysts expect 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 issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s 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.