Ritholtz Wealth Management Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Ritholtz Wealth Management raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,147 shares of the financial services provider’s stock after acquiring an additional 852 shares during the quarter. Ritholtz Wealth Management’s holdings in JPMorgan Chase & Co. were worth $15,424,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JPM. Wellington Wealth Strategies LLC. purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $1,145,000. Cooper Financial Group grew its stake in JPMorgan Chase & Co. by 12.8% during the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after purchasing an additional 984 shares during the last quarter. Spartan Planning & Wealth Management increased its holdings in shares of JPMorgan Chase & Co. by 257.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 2,722 shares during the period. jvl associates llc raised its stake in shares of JPMorgan Chase & Co. by 59.8% in the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 715 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV lifted its holdings in shares of JPMorgan Chase & Co. by 1.3% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock worth $5,201,000 after purchasing an additional 330 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 4.4 %

NYSE JPM opened at $222.29 on Friday. The business has a fifty day moving average price of $211.79 and a 200 day moving average price of $203.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $632.45 billion, a P/E ratio of 12.40, a P/E/G ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its 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 during 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 company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.33 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

Analyst Ratings Changes

A number of equities analysts have issued reports on JPM shares. Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Daiwa Capital Markets lowered their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays boosted their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Piper Sandler raised their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $213.47.

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.