JPMorgan Chase & Co. (NYSE:JPM) is MN Wealth Advisors LLC’s 2nd Largest Position

MN Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,247 shares of the financial services provider’s stock after purchasing an additional 293 shares during the period. JPMorgan Chase & Co. makes up about 5.7% of MN Wealth Advisors LLC’s portfolio, making the stock its 2nd biggest position. MN Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $9,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. Jamison Private Wealth Management Inc. raised its holdings in JPMorgan Chase & Co. by 3.4% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 53,005 shares of the financial services provider’s stock valued at $11,177,000 after buying an additional 1,728 shares during the period. Opal Wealth Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 3,137 shares of the financial services provider’s stock valued at $661,000 after acquiring an additional 156 shares during the period. CCG Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 10.9% in the third quarter. CCG Wealth Management LLC now owns 1,395 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 137 shares during the period. Bourne Lent Asset Management Inc. boosted its stake in shares of JPMorgan Chase & Co. by 3.3% during the 3rd quarter. Bourne Lent Asset Management Inc. now owns 1,550 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 50 shares during the period. Finally, Braun Bostich & Associates Inc. grew its holdings in JPMorgan Chase & Co. by 1.4% during the 3rd quarter. Braun Bostich & Associates Inc. now owns 3,530 shares of the financial services provider’s stock valued at $744,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $223.64 on Thursday. The stock’s 50-day moving average is $213.22 and its 200 day moving average is $204.17. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $642.22 billion, a P/E ratio of 12.47, a PEG ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $4.33 EPS. 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 declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.89%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JPM. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Royal Bank of Canada boosted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday. Barclays raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday. BMO Capital Markets lifted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Evercore ISI raised their target price 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. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $217.94.

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.