Strong Tower Advisory Services Acquires 1,409 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Strong Tower Advisory Services grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 16.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,204 shares of the financial services provider’s stock after acquiring an additional 1,409 shares during the quarter. Strong Tower Advisory Services’ holdings in JPMorgan Chase & Co. were worth $2,152,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Instrumental Wealth LLC raised its position in JPMorgan Chase & Co. by 4.5% in the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock worth $230,000 after acquiring an additional 47 shares in the last quarter. Gemmer Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 48 shares in the last quarter. Great Point Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock valued at $1,151,000 after purchasing an additional 48 shares during the last quarter. Waller Financial Planning Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 1.7% in the 3rd quarter. Waller Financial Planning Group Inc. now owns 2,899 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 49 shares during the period. Finally, Northside Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after buying an additional 50 shares during the period. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $222.28 on Friday. The firm’s 50-day moving average is $211.79 and its 200-day moving average is $203.65. The company has a market cap of $632.42 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.28 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.06 by $0.31. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the prior year, the firm posted $4.33 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a $1.25 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.25%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

Wall Street Analyst Weigh In

Several research firms have weighed in on JPM. Oppenheimer lifted their price objective on shares of JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $213.47.

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.