Algert Global LLC Purchases New Position in JPMorgan Chase & Co. (NYSE:JPM)

Algert Global LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,310 shares of the financial services provider’s stock, valued at approximately $3,017,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. WFA Asset Management Corp increased its position in JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 412 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $1,185,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of JPMorgan Chase & Co. by 32.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 6,374 shares of the financial services provider’s stock valued at $1,277,000 after purchasing an additional 1,569 shares in the last quarter. Innova Wealth Partners bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $212,000. Finally, Meiji Yasuda Life Insurance Co increased its position in shares of JPMorgan Chase & Co. by 11.1% during the first quarter. Meiji Yasuda Life Insurance Co now owns 137,702 shares of the financial services provider’s stock valued at $27,582,000 after buying an additional 13,799 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $249.97 on Wednesday. The company has a market cap of $703.75 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 3.61 and a beta of 1.10. The business’s fifty day simple moving average is $224.80 and its two-hundred day simple moving average is $212.74. JPMorgan Chase & Co. has a 12 month low of $152.71 and a 12 month high of $254.31. 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 released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $41.43 billion. During the same period last 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. Research analysts anticipate 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. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a report on Thursday, November 7th. Finally, 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $229.31.

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.