Iron Horse Wealth Management LLC Buys 780 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Iron Horse Wealth Management LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 208.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,155 shares of the financial services provider’s stock after purchasing an additional 780 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $244,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Aspiriant LLC increased its stake in shares of JPMorgan Chase & Co. by 1.1% in the 1st quarter. Aspiriant LLC now owns 29,728 shares of the financial services provider’s stock worth $5,955,000 after acquiring an additional 320 shares in the last quarter. BCGM Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 2.8% in the 1st quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock worth $3,818,000 after acquiring an additional 516 shares in the last quarter. Accredited Investors Inc. increased its stake in shares of JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after acquiring an additional 667 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of JPMorgan Chase & Co. by 1.4% in the 1st quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock worth $17,439,000 after acquiring an additional 1,173 shares in the last quarter. Finally, Sunburst Financial Group LLC increased its stake in shares of JPMorgan Chase & Co. by 5.0% in the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 268 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on JPM. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Oppenheimer cut their price objective on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Stock Performance

JPM opened at $222.28 on Friday. 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 cap of $638.31 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. The company’s 50 day moving average is $215.23 and its 200 day moving average is $205.23. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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 company 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 20.32% and a return on equity of 17.26%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.33 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. 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 2.25%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

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.