JPMorgan Chase & Co. (NYSE:JPM) Stake Lifted by JCIC Asset Management Inc.

JCIC Asset Management Inc. lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 65,916 shares of the financial services provider’s stock after buying an additional 485 shares during the quarter. JPMorgan Chase & Co. accounts for 5.7% of JCIC Asset Management Inc.’s portfolio, making the stock its 5th biggest position. JCIC Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $13,899,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Retirement Group LLC boosted its position in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the period. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at $37,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $222.31 on Friday. The firm has a market capitalization of $638.40 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.92. The business’s 50-day moving average price is $215.39 and its 200-day moving average price is $205.45.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the business earned $4.33 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.89%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Oppenheimer decreased their price target on 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 raised 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. Royal Bank of Canada upped their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. 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.