Accurate Wealth Management LLC Buys 2,893 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Accurate Wealth Management LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 10.2% during the third quarter, HoldingsChannel.com reports. The fund owned 31,214 shares of the financial services provider’s stock after acquiring an additional 2,893 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.4% of Accurate Wealth Management LLC’s holdings, making the stock its 11th largest position. Accurate Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $6,941,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Swedbank AB acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $800,130,000. Capital Research Global Investors grew its position in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after acquiring an additional 3,252,451 shares during the last quarter. Wulff Hansen & CO. increased its holdings in JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after purchasing an additional 2,787,510 shares in the last quarter. Granite Bay Wealth Management LLC raised its position in JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after purchasing an additional 1,396,194 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in JPMorgan Chase & Co. by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock worth $4,590,412,000 after purchasing an additional 1,040,594 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 0.4 %

JPMorgan Chase & Co. stock opened at $225.37 on Friday. The firm has a market capitalization of $647.19 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 3.28 and a beta of 1.11. The company’s 50 day simple moving average is $214.03 and its 200 day simple moving average is $204.54. 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. has a fifty-two week low of $135.19 and a fifty-two week high of $225.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly 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. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same period last year, the firm posted $4.33 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.22%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research reports. Royal Bank of Canada raised their target price 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. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $217.94.

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.