Arkadios Wealth Advisors Buys 16,697 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Arkadios Wealth Advisors raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 26.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,681 shares of the financial services provider’s stock after buying an additional 16,697 shares during the period. JPMorgan Chase & Co. comprises about 1.0% of Arkadios Wealth Advisors’ portfolio, making the stock its 17th biggest position. Arkadios Wealth Advisors’ holdings in JPMorgan Chase & Co. were worth $17,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Retirement Group LLC raised its holdings in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth about $34,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Finally, Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $222.90 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $136.04 and a 1 year high of $226.75. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $640.09 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 3.28 and a beta of 1.11. The firm’s fifty day moving average price is $215.76 and its two-hundred day moving average price is $206.02.

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, topping the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion for 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 firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.33 earnings per share. As a group, analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share 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 issued a $1.25 dividend. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JPM. Citigroup lifted their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Barclays boosted 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 report on Monday, October 14th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, BMO Capital Markets increased their price objective 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. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $217.94.

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.