Raymond James Trust N.A. Purchases 6,722 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Raymond James Trust N.A. raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% in the 3rd quarter, Holdings Channel reports. The firm owned 370,344 shares of the financial services provider’s stock after purchasing an additional 6,722 shares during the quarter. JPMorgan Chase & Co. comprises about 1.7% of Raymond James Trust N.A.’s investment portfolio, making the stock its 6th biggest holding. Raymond James Trust N.A.’s holdings in JPMorgan Chase & Co. were worth $78,091,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. AlphaCore Capital LLC grew its holdings in shares of JPMorgan Chase & Co. by 3.2% during the third quarter. AlphaCore Capital LLC now owns 52,002 shares of the financial services provider’s stock valued at $10,965,000 after purchasing an additional 1,607 shares during the last quarter. Wrenne Financial Planning LLC grew its stake in JPMorgan Chase & Co. by 15.4% during the 3rd quarter. Wrenne Financial Planning LLC now owns 1,234 shares of the financial services provider’s stock worth $260,000 after buying an additional 165 shares during the last quarter. 49 Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 38.2% during the 3rd quarter. 49 Wealth Management LLC now owns 4,598 shares of the financial services provider’s stock worth $970,000 after buying an additional 1,272 shares during the last quarter. Lathrop Investment Management Corp increased its position in JPMorgan Chase & Co. by 17.3% in the third quarter. Lathrop Investment Management Corp now owns 2,713 shares of the financial services provider’s stock worth $572,000 after buying an additional 400 shares during the period. Finally, Activest Wealth Management lifted its stake in JPMorgan Chase & Co. by 13.4% in the third quarter. Activest Wealth Management now owns 5,065 shares of the financial services provider’s stock valued at $1,068,000 after buying an additional 597 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on JPM shares. Wells Fargo & Company increased their price objective on shares of 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 cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup raised their target price on 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, Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Stock Up 0.7 %

NYSE JPM opened at $250.29 on Tuesday. The company has a market capitalization of $704.65 billion, a P/E ratio of 13.93, a PEG ratio of 3.61 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $152.71 and a 12 month high of $254.31. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50 day simple moving average is $223.99 and its 200 day simple moving average is $212.38.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $4.33 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

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.