Granite Bay Wealth Management LLC Increases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Granite Bay Wealth Management LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 10.7% in the third quarter, Holdings Channel.com reports. The firm owned 25,930 shares of the financial services provider’s stock after buying an additional 2,501 shares during the period. JPMorgan Chase & Co. comprises about 3.1% of Granite Bay Wealth Management LLC’s holdings, making the stock its 13th biggest position. Granite Bay Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $5,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Apella Capital LLC boosted its holdings in shares of JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Apella Capital LLC now owns 9,601 shares of the financial services provider’s stock worth $1,990,000 after purchasing an additional 642 shares during the period. Delta Financial Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.9% in the third quarter. Delta Financial Group Inc. now owns 22,720 shares of the financial services provider’s stock worth $4,791,000 after purchasing an additional 203 shares during the last quarter. Johnson & White Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 2.3% in the third quarter. Johnson & White Wealth Management LLC now owns 8,442 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 189 shares during the last quarter. Wiser Wealth Management Inc grew its holdings in shares of JPMorgan Chase & Co. by 8.4% in the third quarter. Wiser Wealth Management Inc now owns 1,120 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 87 shares during the last quarter. Finally, Trinity Financial Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 4.7% in the third quarter. Trinity Financial Advisors LLC now owns 19,424 shares of the financial services provider’s stock worth $4,096,000 after purchasing an additional 869 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.0 %

Shares of NYSE:JPM opened at $205.17 on Friday. The business has a 50-day moving average price of $211.32 and a 200 day moving average price of $202.90. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $589.18 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 2.39 and a beta of 1.11. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the previous year, the company posted $4.37 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.44%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

Wall Street Analyst Weigh In

Several research firms have commented on JPM. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $220.00 to $224.00 in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $212.13.

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.