Prosperity Financial Group Inc. Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Prosperity Financial Group Inc. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,126 shares of the financial services provider’s stock after purchasing an additional 359 shares during the period. Prosperity Financial Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of analysts recently issued reports on JPM shares. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Evercore ISI raised their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Stock Performance

JPM opened at $249.75 on Thursday. The firm has a market capitalization of $703.13 billion, a PE ratio of 13.90, a PEG ratio of 3.63 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $152.72 and a twelve month high of $254.31. The firm’s 50-day moving average price is $225.64 and its 200 day moving average price is $213.00. 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) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.33 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

JPMorgan Chase & Co. Company Profile

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.