Algert Global LLC Acquires New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Algert Global LLC bought a new position in JPMorgan Chase & Co. (NYSE:JPM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,310 shares of the financial services provider’s stock, valued at approximately $3,017,000.

Other large investors have also made changes to their positions in the company. One Charles Private Wealth Services LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the third quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock worth $2,568,000 after buying an additional 44 shares during the last quarter. Canopy Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 7.9% during the 3rd quarter. Canopy Partners LLC now owns 11,951 shares of the financial services provider’s stock worth $2,520,000 after acquiring an additional 877 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after acquiring an additional 2,839 shares during the last quarter. Cerity Partners LLC grew its position in shares of JPMorgan Chase & Co. by 14.0% during the 3rd quarter. Cerity Partners LLC now owns 1,715,050 shares of the financial services provider’s stock valued at $361,635,000 after acquiring an additional 210,338 shares during the period. Finally, Optivise Advisory Services LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth $508,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $249.97 on Wednesday. The business’s 50-day moving average is $224.80 and its 200 day moving average is $212.74. JPMorgan Chase & Co. has a 12 month low of $152.71 and a 12 month high of $254.31. The company has a market capitalization of $703.75 billion, a P/E ratio of 13.91, a P/E/G ratio of 3.61 and a beta of 1.10. 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 issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (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 business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the prior year, the firm earned $4.33 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a yield of 2.00%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Wall Street Analyst Weigh In

Several analysts have issued reports on JPM shares. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research note on Thursday, November 7th. Finally, Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Two research 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $229.31.

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.