Certified Advisory Corp Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

Certified Advisory Corp boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the third quarter, HoldingsChannel reports. The firm owned 23,012 shares of the financial services provider’s stock after purchasing an additional 234 shares during the period. Certified Advisory Corp’s holdings in JPMorgan Chase & Co. were worth $4,852,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $1,888,088,000. Envestnet Asset Management Inc. increased its holdings in shares of JPMorgan Chase & Co. by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 7,286,705 shares of the financial services provider’s stock valued at $1,473,809,000 after acquiring an additional 157,577 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 3.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,017,646 shares of the financial services provider’s stock valued at $1,479,741,000 after acquiring an additional 261,363 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after purchasing an additional 182,648 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Daiwa Capital Markets cut their price target 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. Finally, Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Price Performance

JPM opened at $249.97 on Wednesday. The firm has a market capitalization of $703.75 billion, a P/E ratio of 13.91, a PEG ratio of 3.61 and a beta of 1.10. The stock has a fifty day moving average of $224.80 and a 200-day moving average of $212.74. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12-month low of $152.71 and a 12-month high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the business earned $4.33 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Friday, October 4th were 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 2.00%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

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.