Hartford Funds Management Co LLC Has $3.43 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Hartford Funds Management Co LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,277 shares of the financial services provider’s stock after acquiring an additional 369 shares during the period. JPMorgan Chase & Co. comprises 0.3% of Hartford Funds Management Co LLC’s investment portfolio, making the stock its 9th biggest position. Hartford Funds Management Co LLC’s holdings in JPMorgan Chase & Co. were worth $3,432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $1,888,088,000. Swedbank AB bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $800,130,000. Wulff Hansen & CO. grew its position in shares of JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after acquiring an additional 2,787,510 shares during the period. Granite Bay Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 6,239.1% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after acquiring an additional 1,396,194 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of JPMorgan Chase & Co. by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 22,696,963 shares of the financial services provider’s stock valued at $4,590,412,000 after acquiring an additional 1,040,594 shares during the period. 71.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on JPM. Barclays upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $249.75 on Thursday. The company’s 50 day simple moving average is $225.64 and its two-hundred day simple moving average is $213.00. The stock has a market capitalization of $703.13 billion, a PE ratio of 13.90, a P/E/G ratio of 3.63 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $152.72 and a 1 year high of $254.31. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

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, topping analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.33 EPS. Analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.