JPMorgan Chase & Co. (NYSE:JPM) Position Boosted by Lummis Asset Management LP

Lummis Asset Management LP increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 371.4% during the third quarter, Holdings Channel reports. The firm owned 858 shares of the financial services provider’s stock after purchasing an additional 676 shares during the period. Lummis Asset Management LP’s holdings in JPMorgan Chase & Co. were worth $181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. WFA Asset Management Corp grew its holdings in shares of JPMorgan Chase & Co. by 51.2% in the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 412 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at $1,185,000. Hoey Investments Inc. boosted its position in shares of JPMorgan Chase & Co. by 5.9% in the 1st quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock valued at $4,482,000 after purchasing an additional 1,247 shares during the period. Beacon Investment Advisory Services Inc. increased its stake in JPMorgan Chase & Co. by 0.4% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 271,231 shares of the financial services provider’s stock worth $54,328,000 after purchasing an additional 983 shares in the last quarter. Finally, Elite Life Management LLC raised its holdings in JPMorgan Chase & Co. by 4.4% during the 1st quarter. Elite Life Management LLC now owns 1,405 shares of the financial services provider’s stock worth $281,000 after buying an additional 59 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $245.18 on Tuesday. 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 firm has a market cap of $690.27 billion, a PE ratio of 13.64, a PEG ratio of 3.56 and a beta of 1.10. The firm’s 50 day moving average price is $220.06 and its 200 day moving average price is $210.55. JPMorgan Chase & Co. has a twelve month low of $151.92 and a twelve month high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 19.64% and a return on equity of 16.71%. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.33 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.04%. 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 dividend payout ratio is 27.82%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JPM. Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research note on Thursday, November 7th. Royal Bank of Canada raised their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $227.13.

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.