Providence Capital Advisors LLC Increases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Providence Capital Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,311 shares of the financial services provider’s stock after purchasing an additional 433 shares during the period. JPMorgan Chase & Co. comprises approximately 1.8% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Providence Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $8,922,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $27,000. Fairway Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth $32,000. Anfield Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.1 %

Shares of JPMorgan Chase & Co. stock opened at $249.98 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a fifty day simple moving average of $227.21 and a 200 day simple moving average of $213.61. JPMorgan Chase & Co. has a 12-month low of $154.38 and a 12-month high of $254.31. The company has a market capitalization of $703.78 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 3.63 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $4.33 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several analyst reports. Barclays raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $229.31.

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.