JPMorgan Chase & Co. (NYSE:JPM) is Tuttle Capital Management LLC’s 6th Largest Position

Tuttle Capital Management LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 34.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,996 shares of the financial services provider’s stock after acquiring an additional 512 shares during the quarter. JPMorgan Chase & Co. makes up about 2.8% of Tuttle Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Tuttle Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $478,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. in the third quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $27,000. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at about $32,000. West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $37,000. Finally, New England Capital Financial Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after buying an additional 50 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $252.22 on Thursday. JPMorgan Chase & Co. has a twelve month low of $164.30 and a twelve month high of $254.31. The company’s 50 day moving average is $242.60 and its 200 day moving average is $223.51. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a market cap of $710.09 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the prior year, the firm posted $3.04 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.98%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays increased their price target on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Truist Financial assumed coverage on shares of JPMorgan Chase & Co. in a research report on Tuesday, January 7th. They set a “hold” rating and a $260.00 price target for the company. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley downgraded shares of 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 report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $245.83.

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.