USA Financial Formulas Has $1.25 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

USA Financial Formulas lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 20.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,949 shares of the financial services provider’s stock after purchasing an additional 1,008 shares during the quarter. USA Financial Formulas’ holdings in JPMorgan Chase & Co. were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Retirement Group LLC boosted its holdings in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at $32,000. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth $34,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on JPM shares. BMO Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Jefferies Financial Group increased their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Barclays lifted their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Citigroup increased their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $212.13.

JPMorgan Chase & Co. Stock Up 1.3 %

Shares of JPM stock opened at $213.41 on Thursday. The company has a market capitalization of $612.84 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 2.39 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The firm has a fifty day moving average of $211.22 and a 200-day moving average of $203.39.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the firm earned $4.37 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 16.72 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

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.