JPMorgan Chase & Co. (NYSE:JPM) is Zacks Investment Management’s 4th Largest Position

Zacks Investment Management raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 11.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,326,172 shares of the financial services provider’s stock after acquiring an additional 137,919 shares during the period. JPMorgan Chase & Co. accounts for 2.4% of Zacks Investment Management’s portfolio, making the stock its 4th biggest position. Zacks Investment Management’s holdings in JPMorgan Chase & Co. were worth $279,637,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of JPM. Accredited Investors Inc. boosted its holdings in JPMorgan Chase & Co. by 4.9% in the 2nd 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 increased its holdings in shares of JPMorgan Chase & Co. by 5.0% in the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock valued at $1,143,000 after purchasing an additional 268 shares in the last quarter. Sageworth Trust Co increased its holdings in shares of 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 in the last quarter. Kingsview Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 2.5% in the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after buying an additional 2,839 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of JPMorgan Chase & Co. by 16.0% during 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 acquiring an additional 95,461 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on JPM shares. Citigroup boosted their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $234.81.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $247.34 on Friday. The business’s fifty day moving average price is $229.94 and its 200 day moving average price is $214.79. The stock has a market capitalization of $696.35 billion, a P/E ratio of 13.76, a PEG ratio of 3.53 and a beta of 1.11. 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. has a twelve month low of $156.15 and a twelve month high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly 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 firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the previous year, the company posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 2.02%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

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.