Acorn Wealth Advisors LLC Has $2.67 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

by · The Cerbat Gem

Acorn Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,650 shares of the financial services provider’s stock after purchasing an additional 994 shares during the period. JPMorgan Chase & Co. makes up 1.1% of Acorn Wealth Advisors LLC’s holdings, making the stock its 20th largest position. Acorn Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Accredited Investors Inc. lifted its position in 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 buying an additional 667 shares in the last quarter. Sunburst Financial Group LLC lifted its position in JPMorgan Chase & Co. by 5.0% during the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after buying an additional 268 shares in the last quarter. Sageworth Trust Co lifted its position in JPMorgan Chase & Co. by 37.9% during the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after buying an additional 786 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $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 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 worth $143,594,000 after buying an additional 95,461 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $249.79 on Friday. The company’s 50 day moving average price is $226.43 and its two-hundred day moving average price is $213.26. JPMorgan Chase & Co. has a 12-month low of $152.72 and a 12-month high of $254.31. The firm has a market cap of $703.24 billion, a PE ratio of 13.90, a PEG ratio of 3.63 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $41.43 billion. During the same quarter in the prior year, the business posted $4.33 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given a dividend of $1.25 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Barclays upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $229.31.

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About JPMorgan Chase & Co.

(Free Report)

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.

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