Fortis Advisors LLC Invests $259,000 in JPMorgan Chase & Co. (NYSE:JPM)

Fortis Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, HoldingsChannel reports. The firm bought 1,081 shares of the financial services provider’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 0.9% during the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after acquiring an additional 505,830 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after purchasing an additional 1,040,594 shares during the last quarter. Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 31.7% during the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in JPMorgan Chase & Co. by 2.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after purchasing an additional 302,592 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on JPM shares. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Finally, Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $245.83.

JPMorgan Chase & Co. Stock Up 1.3 %

JPMorgan Chase & Co. stock opened at $247.35 on Wednesday. The firm has a market capitalization of $696.37 billion, a P/E ratio of 13.76, a P/E/G ratio of 3.54 and a beta of 1.11. The company has a 50-day simple moving average of $242.60 and a 200-day simple moving average of $223.51. JPMorgan Chase & Co. has a one year low of $164.30 and a one year high of $254.31. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. The ex-dividend date is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.02%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

About JPMorgan Chase & Co.

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.