Franklin Resources Inc. Raises Stake in JPMorgan Chase & Co. (NYSE:JPM)

Franklin Resources Inc. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 7.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,073,193 shares of the financial services provider’s stock after purchasing an additional 1,016,289 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.9% of Franklin Resources Inc.’s investment portfolio, making the stock its 17th largest holding. Franklin Resources Inc.’s holdings in JPMorgan Chase & Co. were worth $3,338,955,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Eagle Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Eagle Capital Management LLC now owns 21,867 shares of the financial services provider’s stock valued at $4,423,000 after purchasing an additional 84 shares in the last quarter. Corundum Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 30.9% in the second quarter. Corundum Group Inc. now owns 13,494 shares of the financial services provider’s stock worth $2,729,000 after buying an additional 3,185 shares during the period. High Net Worth Advisory Group LLC boosted its position in shares of JPMorgan Chase & Co. by 3.9% in the second quarter. High Net Worth Advisory Group LLC now owns 13,083 shares of the financial services provider’s stock worth $2,646,000 after buying an additional 492 shares during the period. Red Door Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 4.8% in the second quarter. Red Door Wealth Management LLC now owns 62,071 shares of the financial services provider’s stock valued at $12,554,000 after buying an additional 2,866 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 367.4% during the 2nd quarter. Blackston Financial Advisory Group LLC now owns 5,085 shares of the financial services provider’s stock valued at $1,028,000 after buying an additional 3,997 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 0.8 %

JPM opened at $241.53 on Friday. The stock’s 50 day moving average price is $233.51 and its 200 day moving average price is $216.37. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $679.99 billion, a P/E ratio of 13.44, a P/E/G ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $159.77 and a 12 month high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $4.33 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JPM. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $220.00 to $224.00 in a research report on Monday, September 30th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Barclays raised their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Citigroup boosted their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Two equities research 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 data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus price target of $234.81.

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.