Altman Advisors Inc. Takes $1.89 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Altman Advisors Inc. purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,967 shares of the financial services provider’s stock, valued at approximately $1,891,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $1,888,088,000. Swedbank AB purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $800,130,000. Wulff Hansen & CO. increased its stake in shares of JPMorgan Chase & Co. by 19,920.7% during the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares during the period. Granite Bay Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 6,239.1% during the second quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock worth $277,456,000 after acquiring an additional 1,396,194 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after acquiring an additional 1,040,594 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Barclays increased their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Daiwa Capital Markets decreased their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $229.31.

JPMorgan Chase & Co. Trading Up 1.5 %

Shares of JPM stock opened at $248.55 on Monday. The firm’s 50-day simple moving average is $223.14 and its 200-day simple moving average is $212.01. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $152.71 and a 1-year high of $249.15. The firm has a market cap of $699.75 billion, a P/E ratio of 13.83, a PEG ratio of 3.55 and a beta of 1.10.

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

JPMorgan Chase & Co. Increases Dividend

The company 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 2.01%. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.