Richard C. Young & CO. LTD. Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Richard C. Young & CO. LTD. boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,349 shares of the financial services provider’s stock after purchasing an additional 1,960 shares during the period. Richard C. Young & CO. LTD.’s holdings in JPMorgan Chase & Co. were worth $11,038,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. WFA Asset Management Corp grew its stake in JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $1,185,000. Brogan Financial Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $226,000. Secured Retirement Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 2.5% during the first quarter. Secured Retirement Advisors LLC now owns 9,294 shares of the financial services provider’s stock worth $1,862,000 after buying an additional 231 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. increased its stake in shares of JPMorgan Chase & Co. by 3.4% in the first quarter. Penobscot Investment Management Company Inc. now owns 122,381 shares of the financial services provider’s stock worth $24,513,000 after buying an additional 4,006 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research note on Thursday, November 7th. Citigroup upped their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays lifted their target price 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Stock Up 1.8 %

JPM stock opened at $245.17 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm’s 50-day simple moving average is $222.25 and its 200 day simple moving average is $211.36. The stock has a market cap of $690.24 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 3.53 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $152.71 and a fifty-two week high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.33 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared 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. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.