Hobbs Group Advisors LLC Boosts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Hobbs Group Advisors LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 18.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,544 shares of the financial services provider’s stock after acquiring an additional 237 shares during the period. Hobbs Group Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $326,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter worth $1,888,088,000. Fisher Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after buying an additional 4,043,841 shares during the period. Wulff Hansen & CO. raised its stake in shares of JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after acquiring an additional 2,787,510 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock valued at $922,760,000 after acquiring an additional 2,535,590 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in JPMorgan Chase & Co. by 93.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock valued at $567,669,000 after buying an additional 1,301,764 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $242.99 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $158.15 and a twelve month high of $254.31. The stock’s 50 day moving average is $231.34 and its two-hundred day moving average is $215.71. The firm has a market capitalization of $684.10 billion, a PE ratio of 13.52, a P/E/G ratio of 3.54 and a beta of 1.11. 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 posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period last year, the firm earned $4.33 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analysts Set New Price Targets

A number of research firms have weighed in on JPM. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research note on Thursday, November 7th. Royal Bank of Canada raised their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Citigroup raised their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $234.81.

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.