Concord Wealth Partners Increases Stake in JPMorgan Chase & Co.

Concord Wealth Partners has boosted its investment in JPMorgan Chase & Co. (NYSE:JPM) by 6.1% during the third quarter, as revealed in the company's latest 13F filing with the SEC. After acquiring 1,795 additional shares during this quarter, Concord now holds a total of 31,041 shares in the financial services giant. This investment constitutes 1.1% of Concord Wealth Partners' overall portfolio, making JPMorgan Chase the firm’s 23rd largest position. According to the most recent SEC filing, the firm's stake in JPMorgan Chase is valued at approximately $6,545,000.

Other hedge funds have also made adjustments to their positions in JPMorgan Chase. For instance, Capital International Investors has increased its stake in the company by 1.9% during the first quarter, now owning 42,294,992 shares worth around $8.47 billion following the acquisition of an additional 778,297 shares. Meanwhile, Capital World Investors raised its stake by 0.4%, bringing its total to 34,422,011 shares valued at $6.89 billion after buying 150,812 shares recently. Further, Dimensional Fund Advisors LP raised its investment by 4.8% in the second quarter, holding 22,696,963 shares worth approximately $4.59 billion. Additionally, Capital Research Global Investors saw a notable increase of 23.3%, acquiring 3,252,451 shares for a total of 17,200,124 shares valued at $3.45 billion. International Assets Investment Management LLC also entered the scene with a new stake valued at about $1.89 billion during the third quarter. Notably, around 71.55% of JPMorgan Chase's stock is held by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

As of the latest reports, JPMorgan Chase shares opened at $221.92. The company has a 50-day simple moving average of $216.06 and a two-hundred-day simple moving average settling at $206.26. The stock's debt-to-equity ratio stands at 1.24, while both the quick and current ratios are 0.91. The market capitalization of JPMorgan Chase is approximately $631.40 billion, featuring a price-to-earnings (P/E) ratio of 12.35, a price-to-earnings-growth (P/E/G) ratio of 3.28, and a beta of 1.11. The company has experienced fluctuations with a 52-week low of $137.47 and a high of $226.75.

JPMorgan Chase released its earnings results on October 11th, showcasing earnings per share (EPS) of $4.37 for the quarter, surpassing the consensus estimate of $4.02 by $0.35. The revenue was reported at $43.32 billion, exceeding analysts' expectations of $41.43 billion. The company recorded a net margin of 20.32% and a return on equity of 17.26%. The quarterly revenue reflects a year-over-year growth of 6.5%. For comparison, the EPS during the same quarter last year was $4.33. Analysts predict JPMorgan Chase will achieve an EPS of 16.75 for the current year.

Dividend Announcement

Recently, JPMorgan Chase declared a quarterly dividend that was paid out on October 31st. Investors recorded on October 4th received a dividend of $1.25, with an ex-dividend date also set for October 4th. This annualizes to a $5.00 dividend, yielding 2.25%—an increase from the previous quarterly dividend of $1.15. Currently, the payout ratio for the company stands at 27.82%.

Analyst Ratings

In terms of analyst assessments, various research firms have recently evaluated JPMorgan Chase. Oppenheimer, for example, has adjusted their target price from $234.00 to $232.00 while maintaining an “outperform” rating. Wells Fargo & Company heightened their target price from $220.00 to $225.00 along with an “overweight” rating on July 15th. Morgan Stanley altered their rating from “overweight” to “equal weight,” increasing the target price from $220.00 to $224.00. Additionally, BMO Capital Markets raised their price objective from $195.00 to $205.00, assigning a “market perform” rating. Royal Bank of Canada also upped their target from $211.00 to $230.00, reaffirming their “outperform” rating. Currently, analysts have given a mix of ratings, where nine suggested a hold and eleven recommended buying. MarketBeat.com indicates an average rating of “Moderate Buy” for the stock, with a mean price target of $217.94.

Overview of JPMorgan Chase & Co.

JPMorgan Chase & Co. is a prominent global financial services firm that operates through various segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment provides a diverse range of products, including deposit, investment, and lending services, as well as cash management. It encompasses mortgage origination, servicing activities, and a variety of loans including residential and auto loans, credit cards, and travel-related services, available to consumers and small businesses through branches, ATMs, and digital platforms.

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