Legacy Wealth Management LLC MS Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Legacy Wealth Management LLC MS grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.9% during the third quarter, Holdings Channel reports. The fund owned 13,168 shares of the financial services provider’s stock after purchasing an additional 500 shares during the period. JPMorgan Chase & Co. makes up about 1.0% of Legacy Wealth Management LLC MS’s holdings, making the stock its 27th biggest holding. Legacy Wealth Management LLC MS’s holdings in JPMorgan Chase & Co. were worth $2,777,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in JPM. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $27,000. Fairway Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $32,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Evercore ISI upped their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Royal Bank of Canada upped their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $220.00 to $224.00 in a report on Monday, September 30th. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $234.81.

JPMorgan Chase & Co. Price Performance

NYSE JPM traded down $2.01 during trading on Friday, hitting $239.52. 1,788,699 shares of the stock traded hands, compared to its average volume of 8,956,396. The company has a market capitalization of $674.33 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The firm has a 50-day simple moving average of $233.51 and a 200-day simple moving average of $216.37. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12-month low of $161.71 and a 12-month high of $254.31.

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 for the quarter, beating the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.33 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.