Accredited Investors Inc. lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 21.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,350 shares of the financial services provider’s stock after acquiring an additional 2,678 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.4% of Accredited Investors Inc.’s investment portfolio, making the stock its 28th largest position. Accredited Investors Inc.’s holdings in JPMorgan Chase & Co. were worth $1,466,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in JPM. Private Vista LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth approximately $102,000. Kohmann Bosshard Financial Services LLC acquired a new position in JPMorgan Chase & Co. during the third quarter worth approximately $102,000. Atlantic Trust LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth approximately $136,000. Northwest Investment Counselors LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth approximately $165,000. Finally, Capital Advisors Ltd. LLC increased its position in JPMorgan Chase & Co. by 53.0% during the second quarter. Capital Advisors Ltd. LLC now owns 1,935 shares of the financial services provider’s stock worth $177,000 after buying an additional 670 shares during the last quarter. 73.76% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Deutsche Bank downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and boosted their price target for the stock from $90.00 to $96.00 in a research report on Tuesday, September 26th. Citigroup boosted their price target on JPMorgan Chase & Co. from $90.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, October 6th. Robert W. Baird boosted their price target on JPMorgan Chase & Co. from $88.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Oppenheimer reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, October 12th. Finally, Jefferies Group set a $111.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, October 13th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $93.63.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.09. JPMorgan Chase & Co. had a return on equity of 11.68% and a net margin of 24.08%. The firm had revenue of $25.33 billion during the quarter, compared to analysts’ expectations of $24.91 billion. During the same period in the prior year, the company earned $1.58 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. equities analysts anticipate that JPMorgan Chase & Co. will post 6.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, January 4th. JPMorgan Chase & Co.’s payout ratio is presently 32.14%.
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,099 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the completion of the sale, the general counsel now directly owns 15,279 shares in the company, valued at $1,557,846.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.
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JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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