Klingman & Associates LLC Buys 2,725 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Klingman & Associates LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.1% during the third quarter, Holdings Channel.com reports. The firm owned 27,257 shares of the financial services provider’s stock after buying an additional 2,725 shares during the period. Klingman & Associates LLC’s holdings in JPMorgan Chase & Co. were worth $5,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assetmark Inc. boosted its holdings in JPMorgan Chase & Co. by 3.3% in the third quarter. Assetmark Inc. now owns 557,978 shares of the financial services provider’s stock valued at $117,655,000 after acquiring an additional 17,998 shares during the last quarter. Townsend & Associates Inc raised its stake in shares of JPMorgan Chase & Co. by 1.1% during the third quarter. Townsend & Associates Inc now owns 15,656 shares of the financial services provider’s stock worth $3,498,000 after buying an additional 167 shares during the last quarter. Pegasus Partners Ltd. lifted its holdings in JPMorgan Chase & Co. by 0.3% in the third quarter. Pegasus Partners Ltd. now owns 17,388 shares of the financial services provider’s stock valued at $3,666,000 after buying an additional 51 shares during the period. Crumly & Associates Inc. boosted its position in shares of JPMorgan Chase & Co. by 2.2% in the 3rd quarter. Crumly & Associates Inc. now owns 5,956 shares of the financial services provider’s stock worth $1,256,000 after purchasing an additional 131 shares during the last quarter. Finally, United Bank grew its position in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after buying an additional 614 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $241.24 on Thursday. JPMorgan Chase & Co. has a 52-week low of $146.52 and a 52-week high of $248.00. The company has a market cap of $679.17 billion, a P/E ratio of 13.42, a P/E/G ratio of 3.48 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s 50-day simple moving average is $217.92 and its 200 day simple moving average is $209.11.

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 the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.33 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Daiwa Capital Markets cut 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 research report on Thursday, October 10th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $220.00 to $224.00 in a report on Monday, September 30th. Barclays raised their price objective on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. 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 report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $224.31.

JPMorgan Chase & Co. 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.