Trust Point Inc. Acquires 196 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Trust Point Inc. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,017 shares of the financial services provider’s stock after purchasing an additional 196 shares during the period. JPMorgan Chase & Co. comprises about 0.4% of Trust Point Inc.’s portfolio, making the stock its 26th largest holding. Trust Point Inc.’s holdings in JPMorgan Chase & Co. were worth $5,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cooper Financial Group grew its stake in shares of JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after buying an additional 984 shares in the last quarter. Aspiriant LLC lifted its stake in JPMorgan Chase & Co. by 1.1% in the first quarter. Aspiriant LLC now owns 29,728 shares of the financial services provider’s stock valued at $5,955,000 after acquiring an additional 320 shares during the last quarter. BCGM Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 2.8% in the 1st quarter. BCGM Wealth Management LLC now owns 19,061 shares of the financial services provider’s stock valued at $3,818,000 after acquiring an additional 516 shares during the period. Accredited Investors Inc. increased its stake in shares of JPMorgan Chase & Co. by 4.9% during the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after purchasing an additional 667 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.4% in the 1st quarter. Bleakley Financial Group LLC now owns 87,063 shares of the financial services provider’s stock valued at $17,439,000 after purchasing an additional 1,173 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on JPM shares. Oppenheimer lowered their price target on JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Evercore ISI lifted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, BMO Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

JPMorgan Chase & Co. Trading Up 0.4 %

Shares of JPM stock opened at $225.37 on Friday. The stock has a market cap of $647.19 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.92. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a 50 day simple moving average of $214.03 and a 200 day simple moving average of $204.54.

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 return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the company posted $4.33 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 16.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.

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.