Onyx Bridge Wealth Group LLC Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Onyx Bridge Wealth Group LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 13,763 shares of the financial services provider’s stock after purchasing an additional 237 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in JPMorgan Chase & Co. were worth $2,902,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JPM. Retirement Group LLC lifted its holdings in 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 buying an additional 109 shares in the last quarter. Fairway Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $34,000. Anfield Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.5 %

Shares of JPMorgan Chase & Co. stock opened at $225.43 on Friday. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.92. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company’s 50-day simple moving average is $214.03 and its 200-day simple moving average is $204.50. The firm has a market cap of $647.36 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) 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 business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. During the same period in the previous year, the business posted $4.33 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.75 earnings per share 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. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is 27.89%.

Analyst Ratings Changes

A number of research firms have issued reports on JPM. Daiwa Capital Markets reduced their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Evercore ISI increased their target price 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. BMO Capital Markets increased their target price 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. Jefferies Financial Group raised their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $217.94.

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.