Goldstone Financial Group LLC Takes $3.93 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Goldstone Financial Group LLC acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,642 shares of the financial services provider’s stock, valued at approximately $3,931,000.

A number of other institutional investors and hedge funds have also bought and sold shares of JPM. Henrickson Nauta Wealth Advisors Inc. lifted its position in shares of JPMorgan Chase & Co. by 1.3% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC increased its stake in JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock valued at $1,201,000 after buying an additional 45 shares during the last quarter. West Wealth Group LLC lifted its position in shares of JPMorgan Chase & Co. by 3.6% during the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock worth $280,000 after buying an additional 46 shares in the last quarter. Instrumental Wealth LLC boosted its stake in shares of JPMorgan Chase & Co. by 4.5% in the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after buying an additional 47 shares during the last quarter. Finally, Gemmer Asset Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.6% in the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 48 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on JPM shares. Royal Bank of Canada lifted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. BMO Capital Markets lifted their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Oppenheimer dropped 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 report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.81.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $222.94 on Monday. The firm has a 50 day simple moving average of $216.15 and a two-hundred day simple moving average of $206.90. The stock has a market cap of $627.65 billion, a PE ratio of 12.41, a P/E/G ratio of 3.24 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $139.23 and a one year high of $226.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results 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 net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the business earned $4.33 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 17.52 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 dividend of $1.25 per share. The ex-dividend date was 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 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.