Virginia Wealth Management Group Inc. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 18.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,051 shares of the financial services provider’s stock after buying an additional 4,049 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 3.4% of Virginia Wealth Management Group Inc.’s holdings, making the stock its 4th biggest position. Virginia Wealth Management Group Inc.’s holdings in JPMorgan Chase & Co. were worth $5,493,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Retirement Group LLC increased its position in shares of JPMorgan Chase & Co. by 227.1% during the 1st 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 during the last quarter. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $32,000. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. Finally, West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.
JPMorgan Chase & Co. Price Performance
Shares of JPM traded up $10.41 during mid-day trading on Friday, hitting $223.25. 4,611,778 shares of the stock were exchanged, compared to its average volume of 9,079,838. The company has a market cap of $635.18 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The firm has a 50-day moving average of $211.32 and a two-hundred day moving average of $203.46. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.
JPMorgan Chase & Co. Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.89%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Daiwa Capital Markets reduced their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group boosted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.47.
Read Our Latest Stock Analysis on JPM
JPMorgan Chase & Co. 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.
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