Fisher Asset Management LLC Increases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

by · The Markets Daily

Fisher Asset Management LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 31.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,784,272 shares of the financial services provider’s stock after buying an additional 4,043,841 shares during the period. JPMorgan Chase & Co. makes up about 1.4% of Fisher Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Fisher Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,539,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. in the third quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $27,000. Fairway Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $32,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 0.1 %

Shares of JPM stock opened at $249.75 on Thursday. The stock’s 50-day moving average price is $225.64 and its 200-day moving average price is $213.00. JPMorgan Chase & Co. has a 12-month low of $152.72 and a 12-month high of $254.31. The stock has a market capitalization of $703.13 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 3.63 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period in the prior year, the firm earned $4.33 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Daiwa Capital Markets lowered their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $229.31.

View Our Latest Analysis on JPM

JPMorgan Chase & Co. Profile

(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.

Further Reading

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