Pinnacle Wealth Management Group Inc. Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Pinnacle Wealth Management Group Inc. grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,252 shares of the financial services provider’s stock after purchasing an additional 69 shares during the period. JPMorgan Chase & Co. makes up approximately 1.5% of Pinnacle Wealth Management Group Inc.’s holdings, making the stock its 22nd largest holding. Pinnacle Wealth Management Group Inc.’s holdings in JPMorgan Chase & Co. were worth $2,373,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wellington Wealth Strategies LLC. acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $1,145,000. Cooper Financial Group raised its position in shares of JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after purchasing an additional 984 shares in the last quarter. Spartan Planning & Wealth Management grew its holdings in JPMorgan Chase & Co. by 257.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after acquiring an additional 2,722 shares in the last quarter. jvl associates llc raised its stake in JPMorgan Chase & Co. by 59.8% during the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after buying an additional 715 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV increased its holdings in shares of JPMorgan Chase & Co. by 1.3% in the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock valued at $5,201,000 after acquiring an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent research reports. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Barclays increased their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Citigroup boosted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Piper Sandler boosted 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 increased their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $213.47.

JPMorgan Chase & Co. Stock Up 4.4 %

Shares of JPMorgan Chase & Co. stock opened at $222.29 on Friday. 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 market capitalization of $632.45 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. The stock’s fifty day moving average is $211.79 and its 200-day moving average is $203.70.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same quarter in the previous year, the business earned $4.33 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share 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. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.89%.

JPMorgan Chase & Co. Company 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.