Contravisory Investment Management Inc. Acquires 35,609 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Contravisory Investment Management Inc. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1,411.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,131 shares of the financial services provider’s stock after purchasing an additional 35,609 shares during the quarter. Contravisory Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $8,040,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Retirement Group LLC raised its stake 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 worth $31,000 after acquiring an additional 109 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $34,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $37,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Daiwa Capital Markets cut their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group upped their price target on shares of 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.47.

JPMorgan Chase & Co. Stock Down 0.3 %

NYSE:JPM opened at $212.84 on Friday. The firm has a market capitalization of $605.57 billion, a P/E ratio of 11.87, a PEG ratio of 3.28 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The company’s fifty day moving average price is $211.22 and its 200-day moving average price is $203.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the prior year, the business earned $4.37 earnings per share. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.35%. 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 (DPR) is currently 27.89%.

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.