RKL Wealth Management LLC Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

RKL Wealth Management LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 19,512 shares of the financial services provider’s stock after buying an additional 207 shares during the quarter. RKL Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Accredited Investors Inc. increased its position in shares of JPMorgan Chase & Co. by 4.9% during the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after acquiring an additional 667 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of JPMorgan Chase & Co. by 1.4% during the first quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock valued at $17,439,000 after acquiring an additional 1,173 shares in the last quarter. Sunburst Financial Group LLC increased its position in shares of JPMorgan Chase & Co. by 5.0% during the second quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 268 shares in the last quarter. Sageworth Trust Co increased its position in shares of JPMorgan Chase & Co. by 37.9% during the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 786 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after acquiring an additional 95,461 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.3 %

JPM opened at $241.93 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $148.46 and a fifty-two week high of $248.00. The firm’s fifty day moving average is $218.35 and its 200 day moving average is $209.33. The stock has a market cap of $681.12 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its 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. 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 for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the company earned $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JPM. Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Daiwa Capital Markets dropped their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus price target of $224.31.

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.