Hartford Financial Management Inc. Has $11.43 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Hartford Financial Management Inc. increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,185 shares of the financial services provider’s stock after purchasing an additional 54 shares during the quarter. JPMorgan Chase & Co. makes up 2.3% of Hartford Financial Management Inc.’s holdings, making the stock its 7th largest position. Hartford Financial Management Inc.’s holdings in JPMorgan Chase & Co. were worth $11,426,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Principal Securities Inc. raised its stake in JPMorgan Chase & Co. by 8.4% in the 3rd quarter. Principal Securities Inc. now owns 73,045 shares of the financial services provider’s stock valued at $15,402,000 after acquiring an additional 5,685 shares during the period. Penobscot Wealth Management raised its position in shares of JPMorgan Chase & Co. by 37.1% in the third quarter. Penobscot Wealth Management now owns 1,378 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 373 shares during the period. Stephens Inc. AR lifted its stake in shares of JPMorgan Chase & Co. by 28.5% during the 3rd quarter. Stephens Inc. AR now owns 367,430 shares of the financial services provider’s stock worth $77,476,000 after buying an additional 81,467 shares during the last quarter. Summit Wealth Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 5.6% during the 3rd quarter. Summit Wealth Partners LLC now owns 5,623 shares of the financial services provider’s stock worth $1,186,000 after buying an additional 297 shares during the period. Finally, Norris Perne & French LLP MI grew its stake in JPMorgan Chase & Co. by 17.9% in the 3rd quarter. Norris Perne & French LLP MI now owns 13,026 shares of the financial services provider’s stock valued at $2,747,000 after buying an additional 1,979 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $219.78 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market cap of $618.76 billion, a PE ratio of 12.23, a P/E/G ratio of 3.24 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $142.79 and a 12-month high of $226.75. The business’s 50-day moving average price is $216.17 and its two-hundred day moving average price is $207.18.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.33 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.28%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JPM. Daiwa Capital Markets reduced their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Barclays increased 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. Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.81.

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.