Precedent Wealth Partners LLC Has $1.95 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Precedent Wealth Partners LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,242 shares of the financial services provider’s stock after buying an additional 518 shares during the period. Precedent Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Group LLC grew its position in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $34,000. Finally, Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $225.37 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a market cap of $647.19 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.92. The company’s 50-day moving average price is $214.03 and its two-hundred day moving average price is $204.54.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.33 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on JPM shares. Oppenheimer lowered their price objective on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. BMO Capital Markets raised their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.94.

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.