Altman Advisors Inc. Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)

Altman Advisors Inc. purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,967 shares of the financial services provider’s stock, valued at approximately $1,891,000.

Other large investors have also recently made changes to their positions in the company. Accredited Investors Inc. grew its position in shares of JPMorgan Chase & Co. by 4.9% in the second quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock valued at $2,867,000 after purchasing an additional 667 shares in the last quarter. Sunburst Financial Group LLC raised its stake in 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 worth $1,143,000 after purchasing an additional 268 shares during the period. Sageworth Trust Co boosted its holdings in JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 786 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of JPMorgan Chase & Co. by 16.0% in the 3rd 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 buying an additional 95,461 shares during the period. Finally, Czech National Bank increased its holdings in shares of JPMorgan Chase & Co. by 7.6% during the 2nd quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock worth $110,682,000 after buying an additional 38,548 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 1.5 %

Shares of NYSE JPM opened at $248.55 on Monday. The stock has a market cap of $699.75 billion, a P/E ratio of 13.83, a PEG ratio of 3.55 and a beta of 1.10. The business’s fifty day simple moving average is $223.14 and its 200-day simple moving average is $212.01. JPMorgan Chase & Co. has a 12-month low of $152.71 and a 12-month high of $249.15. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter last year, the company earned $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.01%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Analyst Ratings Changes

A number of research analysts recently commented on JPM shares. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $220.00 to $224.00 in a report on Monday, September 30th. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a report on Thursday, November 7th. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada upped their price objective 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $229.31.

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.